iPhone assemblers Hon Hai, Wistron, and Pegatron may invest $900 million in five years to seize the Indian market

Reuters reported that Foxconn, Wistron and Pegatron, the three major Taiwanese manufacturers in Apple's supply chain, plan to participate in India's production incentive program (PLI) and invest nearly US$900 million (approximately NT$26.2 billion) in India in the next five years to expand iPhone production capacity in India.

Reuters quoted people familiar with the matter as saying that Foxconn, a subsidiary of Hon Hai Group, has applied to invest about 40 billion rupees (542 million US dollars), while Wistron and Pegatron have pledged to invest nearly 13 billion rupees and 12 billion rupees respectively under the PLI plan.

It is still unclear whether the purpose of the above investments is to promote the production of Apple devices in India, but informed sources and industry insiders have stated that the vast majority of investments will be focused on expanding iPhone production capacity in India.

In order to attract investment from domestic and foreign technology companies and build India into a global smartphone production center, the Indian government announced in June this year that it would offer incentives worth approximately US$6.65 billion. The plan came into effect in August and will last for five years.

In response to the relevant reports, Foxconn said that based on policy considerations, the company does not comment on specific operations or customer work. As for Apple, Wistron, Pegatron, and the Indian Ministry of Electronics and Information Technology, none of them responded to requests for comment.