Foxconn, the multinational electronics manufacturing company, has announced plans to invest $1 billion USD to establish a smartphone display assembly unit in Tamil Nadu, India, solidifying its position as a key manufacturing hub in the country.
According to reports, this investment will boost local manufacturing, create jobs, and strengthen India’s position in the global supply chain, as well as reduce the company’s reliance on China.
The report further mentions that the project supports India’s Make-in-India initiative to enhance domestic production capacity and contribute to the region’s local manufacturing.
