Apple iPhone maker Foxconn invests $500 million in India

Apple's main iPhone manufacturer Foxconn has invested $500 million this week to expand its dependence on China and adds more to its existing plant in India.

The investment disclosed in a Taiwan stock exchange filing shows that Foxconn is investing more heavily in its Hon Hai Technology India Mega Development Private Limited operation, a Bloomberg reporter first announced.

The news came a week after it was reported that Apple was looking to cut ties with China because of the violent worker protests, unpredictable COVID policies and years of supply chain issues following the COVID epidemic.

The Taiwanese manufacturer seems to be making the leap by expanding its chip making factories in the south Asian market, especially in India, where some estimate that Apple will be able to house a top iPhone hub by 2025, according to TechCrunch Thursday.

India already is the world's second-largest market for iPhone production, with China coming in as number one, and it is not known how much Apple will cut ties with the Chinese market.

In September, J.P. Morgan predicted that Apple will expand India's manufacturing capacity to produce 25% of all iPhones by 2025.

Apple's top manufacturer is apparently making sure it is not left in the dust while the tech giant changes where its products are manufactured.

Foxconn signed an agreement with the Indian government in September to develop a $20 billion semiconductor plant in western India, reports said earlier this year.