Taiwanese electronics producer Foxconn has invested $37.2 million in its Indian subsidiary via its Singapore unit, as the corporate continues to develop its manufacturing presence in India.

Hon Hai Precision Business, higher generally known as Foxconn, mentioned in a inventory trade submitting that Foxconn Singapore Pte Ltd had acquired about 351.7 million widespread shares in Foxconn Hon Hai Know-how India Mega Growth Personal Restricted.

The shares have been acquired at Rs 10 every, the submitting mentioned. The transaction was described as a “Lengthy Time period Funding” funded via “non-public capital”.

Following the deal, Foxconn Singapore holds 23.18 billion shares within the Indian firm, representing a 99.99999996% stake. One other Foxconn group firm, Yuzhan Know-how India Personal Restricted, holds 10 shares, or 0.00000004% of the India unit.

The cumulative worth of Foxconn Singapore’s holding within the Indian subsidiary now stands at $2.82 billion.

The investment comes as Foxconn will increase its give attention to India, the place Apple has been increasing manufacturing as a part of efforts to diversify its provide chain past China.

Foxconn’s largest Indian operations have been in Tamil Nadu, together with its Sriperumbudur web site close to Chennai, the place it assembles iPhones. In Could 2025, Foxconn Singapore additionally invested $1.5 billion in Yuzhan Technology India, a Tamil Nadu-based subsidiary.

The corporate can be increasing in Karnataka. State officers have described Foxconn’s Devanahalli campus close to Bengaluru airport as a 300-acre challenge, whereas studies have mentioned the power is predicted to develop into one of many firm’s main iPhone meeting websites in India.

The corporate’s growth plans sit inside its “3+3+3” technique, which focuses on three rising industries, electrical automobiles, digital well being and robotics, supported by synthetic intelligence, semiconductors and next-generation communications applied sciences.

A earlier declare by Tamil Nadu officers that Foxconn had dedicated Rs 15,000 crore within the state grew to become disputed final 12 months. Foxconn mentioned no new investments had been mentioned at a gathering with the state authorities, whereas state officers mentioned they have been saying an present dedication.

The newest share acquisition doesn’t contain a change in Foxconn’s enterprise mannequin, in line with the submitting.

India has additionally develop into a extra necessary marketplace for Apple. In April, Apple mentioned it had reported its greatest March quarter, with income of $111.2 billion and double-digit development throughout each geographic phase.

Apple has continued to develop its retail presence within the nation as nicely. In February, the corporate opened Apple Borivali in Mumbai, its sixth retailer in India.