Taiwanese electronics manufacturer Foxconn’s Singapore subsidiary invested $37.2 million to acquire 351.73 million shares in its Indian unit, Foxconn Hon Hai Technology India Mega Development Pvt Ltd, according to stock exchange filings. This acquisition, completed recently, is part of Foxconn’s long-term investment strategy to expand its presence in India amid rising demand for Apple products and efforts to diversify global supply chains.
The transaction increased Foxconn Singapore’s stake in the Indian subsidiary to nearly 100%, holding 23.18 billion shares valued at $2.82 billion. The company financed the acquisition through private capital. Foxconn has been focusing on South India, particularly Tamil Nadu, where it manufactures iPhone components. In October last year, Foxconn committed ₹15,000 crore to enhance operations in Tamil Nadu, following approval to invest $2.2 billion across the US and India.
Foxconn’s investment aligns with its 3-3-3 policy, which aims to integrate three emerging industries, three core technologies, and three smart platforms to support supply diversification and sustainable growth. The move also supports India’s push to scale domestic electronics production. Earlier, in May 2025, Foxconn infused $1.48 billion into its Tamil Nadu-registered entity Yuzhan Technology (India), reinforcing its commitment to the region’s manufacturing capabilities.
The latest share acquisition underscores Foxconn’s strategic expansion in India’s electronics manufacturing sector, with the cumulative holding value of its Indian unit now at $2.82 billion, according to inc42.com.