Taiwanese electronics giant Foxconn has seen a dramatic surge in its India operations, with revenue more than doubling to over 20 billion dollars (approximately Rs 1.7 lakh crore) in the financial year 2024-25. The spike is primarily driven by increased iPhone production, according to industry sources familiar with the matter.
Workforce Rises by Over 65 Percent
In addition to the revenue jump, Foxconn’s employee count in India has grown by over 65 percent, now exceeding 80,000 people. This marks a significant investment in manpower, reflecting the company’s growing reliance on India as a key global manufacturing hub.
Massive Boost in iPhone Exports
Union Minister Ashwini Vaishnaw recently announced that mobile phone exports from India have reached a record Rs 2 lakh crore in FY 2024-25. Out of this, iPhone exports alone contributed Rs 1.5 lakh crore. With Foxconn being the top iPhone manufacturer globally, the company is central to this massive export milestone.
New Facility Near Bengaluru to Create 40,000 Jobs
Foxconn is currently building its second-largest manufacturing facility outside China in Devanahalli near Bengaluru, with a planned investment of 2.8 billion dollars (around Rs 25,000 crore). The facility is expected to generate over 40,000 jobs and play a crucial role in the company’s plan to produce all iPhones for the US market from India.
Expansion Plans in Uttar Pradesh and Hyderabad
Foxconn is also in talks with the Uttar Pradesh government to establish a large electronics manufacturing plant spanning 300 acres. Simultaneously, the company has begun exporting AirPods from its Hyderabad plant with an investment of 400 million dollars (Rs 3,325 crore).
Entry into Semiconductor Manufacturing
Taking a step further into India’s tech ecosystem, Foxconn has partnered with HCL to form a semiconductor joint venture named Vama Sundari. This JV will set up an outsourced semiconductor assembly and testing (OSAT) facility with an investment of Rs 3,706 crore, aiming to generate around 4,000 jobs in the initial phase.
India Becomes Key Strategic Hub for Foxconn
With rising investments, exports, and employment, Foxconn’s growing footprint signals India’s emergence as a strategic alternative to China in global electronics manufacturing.
