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India Approves $4.6 Billion in Electronic Component Manufacturing Projects

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India has approved electronic component manufacturing projects worth 418.63 billion rupees ($4.64 billion) under a government incentive programme aimed at strengthening domestic production, the country’s IT ministry said on Friday.

Global and domestic players including Samsung Electronics, Tata Electronics and Foxconn are among the companies whose proposals were cleared to receive subsidies under the Electronics Component Manufacturing Scheme. The scheme has a total outlay of 229.19 billion rupees and is designed to expand local capacity in key segments of the electronics supply chain.

The approved projects cover the production of a wide range of components, including mobile phone enclosures, camera sub-assemblies and other critical electronic parts. According to the IT ministry, the projects will be implemented across eight Indian states, reflecting a geographically diversified push to scale up manufacturing.

India has intensified efforts in recent years to build a globally competitive electronics manufacturing ecosystem. Through a series of incentive programmes, the government aims to attract both international and local investors, reduce reliance on imports and strengthen supply chains across multiple technology sectors.

The country’s electronics manufacturing sector produced goods worth about $125 billion in the year ended March 2025. The government has set an ambitious target to raise output to $500 billion by fiscal year 2031, positioning electronics as a key pillar of India’s industrial growth strategy.

Officials said the newly approved projects are expected to generate electronic components worth 2.58 trillion rupees ($28.62 billion) over time and create employment for around 34,000 people, providing a significant boost to manufacturing jobs and regional development.

Foxconn Sees AI Boom Driving 2026 Growth, Hints at OpenAI Collaboration

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Foxconn, the world’s largest contract electronics manufacturer and key supplier to Apple and Nvidia, projected strong growth from artificial intelligence (AI) demand heading into 2026 — and teased a major announcement with OpenAI next week.

Chairman Young Liu told investors on Wednesday that the AI industry was only in its early stages and would soon become a central driver of global technology growth.
“Judging from what we see now, I am very optimistic about the AI market next year,” Liu said during the company’s quarterly earnings call. “The development of AI is still just beginning.”

Foxconn’s cloud and networking division, which includes AI server manufacturing, has now surpassed its consumer electronics segment — which includes iPhones — for the second consecutive quarter.

The company expects significant year-on-year revenue growth in the fourth quarter, with AI server sales continuing to rise quarter-on-quarter. Third-quarter profit jumped 17% to T$57.67 billion ($1.89 billion), beating analyst expectations.

Liu also hinted at an OpenAI-related announcement to be revealed during Foxconn’s annual Tech Day in Taipei next week, but declined to provide further details. OpenAI has not yet commented on the matter.

Foxconn — formally known as Hon Hai Precision Industry — has benefited from a global data center expansion led by Amazon, Microsoft, and Google, as they ramp up investments in AI infrastructure.

Beyond AI, Foxconn continues to invest in electric vehicles (EVs), despite recent challenges in its EV manufacturing ventures in the U.S.

So far this year, Foxconn’s shares have risen 36%, outperforming Taiwan’s broader market index, which is up 21%.

Apple Reportedly to Double Monthly AirPods Production in India Following iPhone Expansion

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Apple is accelerating its manufacturing presence in India, expanding beyond iPhone production to include its popular AirPods lineup. The company has partnered with contract manufacturers such as Tata and Foxconn to assemble iPhones locally, and now Foxconn is reportedly planning to double the production capacity of its Hyderabad facility where AirPods are made. This expansion is part of Apple’s broader strategy to reduce reliance on Chinese manufacturing and diversify its global supply chain. Devamını Oku