As iPhone exports soar, Apple supplier Hon Hai commits $1.5 bn to India

Hon Hai Precision Industry, the main assembler of Apple’s iPhones, has committed $1.5 billion to its Indian subsidiary. The investment was made through its Singapore-based unit, according to a stock exchange filing. The funds are expected to support Hon Hai’s ongoing expansion in southern India, where it is building new facilities and increasing production capacity.

Apple is boosting its efforts to move a significant portion of iPhone manufacturing out of China. The goal is to produce most of the iPhones sold in the United States from India by the end of next year.

This shift in production to India has sparked criticism from US President Donald Trump, who recently urged Apple CEO Tim Cook to stop building new factories in India and manufacture in America instead. Trump’s remarks come amid broader concerns over tariffs and global political tensions.

Apple has long relied on Chinese factories for iPhone production, but there is currently no iPhone manufacturing in the US. The company, however, has pledged to invest $500 billion in the US and increase domestic hiring over the next four years.

In addition to expanding in India, Hon Hai (better known as Foxconn) is also investing more in the United States. These moves are part of a broader strategy to reduce exposure to geopolitical risks, including the impact of tariffs on Chinese-made goods.