New Delhi: In a recent regulatory announcement, Foxconn, a key supplier for Apple, revealed an impressive investment of USD 1.48 billion (approximately Rs 12,800 crore) in its Indian operations over the past five days.

This substantial funding is directed towards its Tamil Nadu facility, Yuzhan Technology (India) Private Limited, facilitated through its Singapore-based subsidiary.

As part of this deal, Foxconn Singapore Pte has purchased 9,999 shares at a nominal price of Rs 10 each, with a total transaction value reaching USD 1.489 billion.

This investment aligns with Apple's strategy to boost iPhone production in India.

Apple's CEO, Tim Cook, has indicated that a significant portion of iPhones sold in the US will be sourced from India in the upcoming June quarter, while China will continue to manufacture most devices for other regions amid ongoing trade tariff uncertainties.

Reports suggest that Foxconn's revenue in India has surged to over USD 20 billion (around Rs 1.7 lakh crore) for the financial year 2024-25, driven by increased iPhone production.

According to S&P Global analysis, iPhone sales in the US are projected to reach 75.9 million units in 2024, with March exports from India totaling 3.1 million units, indicating a pressing need to either expand capacity or reroute shipments intended for the domestic market.

Government officials have noted that India currently contributes 15 percent to Apple's global iPhone output.

Sources indicate that Apple aims to manufacture approximately 60 million iPhones in India during this fiscal year.

In April, Union Minister Ashwini Vaishnaw announced that mobile phone exports from India have achieved a record high of Rs 2 lakh crore in FY25, with iPhone exports alone accounting for Rs 1.5 lakh crore.