Foxconn commits over $600 million to India for phone manufacturing and semiconductor equipment facilities.
The Taiwanese firm partners with U.S. chip company Applied Materials for the investments.
The phone project aims to create 12,000 job opportunities, while the semiconductor facility will generate 1,000 jobs.
Foxconn, known for assembling Apple's iPhones, seeks to diversify geographically and expand its product portfolio.
China houses Foxconn's primary operations, including the world's largest iPhone factory.
India becomes a target for Foxconn's expansion as it promotes high-tech manufacturing.
Foxconn's venture into electric car manufacturing aims to diversify beyond consumer electronics.
Efforts to enter the semiconductor manufacturing sector faced challenges, despite earlier partnerships.
Indian metals-to-oil conglomerate Vedanta's joint venture with Foxconn for a semiconductor plant was canceled.
Prime Minister Narendra Modi's vision positions India as an advanced technology hub, attracting tech giants like Foxconn.
Foxconn's investment bolsters India's tech ambitions as global chip firms also show interest in the country's potential.