An Indian subsidiary of the Taiwanese company, Foxconn, acquired equipment from Apple Operations Ltd. for operational needs, according to a filing from Foxconn’s Taipei-listed flagship unit Hon Hai Precision Industry Co.
In May, India’s Minister of State for Technology Rajeev Chandrasekhar said that Apple is interested in increasing electronics production in the country, a month after the US company’s Chief Executive Officer Tim Cook renewed a pledge to invest in the region during a meeting with Prime Minister Narendra Modi.
Apple Inc. tripled iPhone production and assembled more than $7 billion of iPhones in India last fiscal year, making almost 7% of its handsets in the country. Meanwhile, Foxconn is planning to invest about $700 million to build a new plant in the southern Indian state of Karnataka partly to ramp up local production of iPhone parts, Bloomberg News has reported.