Apple supplier Foxconn is likely to set up a plant in India's Tamil Nadu, with an investment of a billion dollars.
According to an Economic Times report, Foxconn plans to establish a smartphone display module assembly unit, primarily supplying to Apple and its contract manufacturers.
The report further adds that creating local assembly units will help reduce supply chain delays and costs, benefiting brands by shortening delivery times.
Foxconn is expanding its smartphone business in India and plans to branch out into areas like electric vehicles, batteries, and semiconductors.
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