Apple provider Foxconn will make investments 1.5 billion rupees in its India unit, the corporate mentioned in a submitting, because the iPhone maker shifts extra manufacturing out of tariff-hit .

Foxconn’s Singapore-based subsidiary will purchase 12.77 billion shares value 10 rupees apiece, amounting to 127.74 billion rupees ($1.50 billion) in Yuzhan Know-how India, in keeping with the London Inventory Alternate submitting.

Yuzhan Know-how India, Foxconn’s unit in Tamil Nadu, manufactures digital elements and in addition assembles Apple’s iPhones.

Apple is positioning India instead manufacturing base amid US President Donald Trump’s tariffs on , which have raised provide chain considerations and fears of upper iPhone costs, Reuters reported final month.

In March, Apple ramped up India manufacturing, exporting round 600 tons of iPhones value $2 billion (roughly Rs. 17,103 crore) to the US. 

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