BENGALURU (Reuters) – Taiwan’s Foxconn will invest $1.5 billion in India in its latest expansion plan, the world’s largest contract manufacturer of electronics said on Monday.
The company, which announced the investment plan in a stock exchange filing, did not provide any further details.
Foxconn has been rapidly expanding its presence in India by investing in manufacturing facilities in the south of the country.
The contract manufacturer aims to double its workforce and investment in India by next year, a company executive had said in September.
The company’s Chairman Liu Young-way had also said in an earnings briefing in August he sees a lot of potential in India, adding that “several billion dollars in investment is only a beginning”.
(Reporting by Kashish Tandon in Bengaluru; Editing by Krishna Chandra Eluri)
