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Time of India
22-05-2025
- Business
- Time of India
Foxconn invests $1.5 billion to expand iPhone production in India
Foxconn has invested another $1.5 billion (about ₹12,500 crore) in India as it looks to expand its presence outside China. The investment comes through Foxconn's Singapore-based arm, which has bought 12.7 billion shares in its Indian unit, Yuzhan Technology India . Tired of too many ads? go ad free now Yuzhan makes smartphone components in Tamil Nadu and is a key part of Apple's iPhone supply chain. According to the government, five semiconductor units are already under construction. With Foxconn's new unit, India now has six semiconductor projects in the pipeline. Foxconn partners with HCL Group This investment follows recent approval from the Indian government allowing Foxconn to set up a semiconductor facility near Noida airport. The plant, a joint venture with HCL Group, is worth ₹3,700 crore and will make display driver chips used in smartphones, laptops, cars, and other electronic devices. The factory is expected to process 20,000 wafers and produce up to 36 million units every month. India is building up its semiconductor sector through new infrastructure, government support, and academic involvement. Over 270 institutions and 70 startups are working on advanced chip design, and 20 student-designed chips have already been completed at SCL Mohali. Global players like Applied Materials and Lam Research have also started operations in India, and suppliers like Merck, Linde, Air Liquide, and Inox are expanding to support the industry. Foxconn's 300-acre plant in Karnataka This comes a week later US President Donald Trump said he told Apple CEO Tim Cook: 'I don't want you building in India.' Despite these comments, Apple appears to be staying the course on shifting iPhone production from China to India. Apple CEO Tim Cook has publicly stated that most iPhones sold in the U.S. will soon be made in India. That transition is visibly underway at Foxconn's massive 300-acre plant in Devanahalli, Karnataka. Tired of too many ads? go ad free now On Monday, operations continued without disruption, and construction of dormitories for workers—a standard feature of the Foxconn model—was ongoing. Foxconn, Apple's largest contract manufacturer, is investing $2.56 billion (over ₹21,000 crore) in the Devanahalli facility. The plant spans Doddagollahalli and Chapparadahalli villages, located about 34 km from Bengaluru's Kempegowda International Airport. The first phase of the project (2023–24) involved an investment of approximately ₹3,000 crore, and a similar amount is planned for phase two (2026–27). Foxconn aims to produce around 100,000 iPhones at the facility by December this year.
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Business Standard
20-05-2025
- Health
- Business Standard
Most Indian corporate employees face emotional distress, HCL Healthcare finds
If you have been feeling unusually tired, anxious, or emotionally drained at work lately, you are far from alone. A new report by HCL Healthcare, a division of the HCL Group, has found that emotional struggles are intensifying within India's corporate corridors—what it calls a wake-up call businesses can no longer afford to ignore. What the HCL Healthcare emotional wellness report found After analysing more than 4,200 emotional wellness consultations across five major companies, HCL Healthcare found that 84 per cent of employees reported low mood or depressive thoughts, while 59 per cent showed signs of moderate to severe anxiety. Sleep deprivation was another key factor, with nearly half the workforce getting less than seven hours of rest, and one in five employees reporting consistently poor sleep quality. Personal issues now drive more stress than performance pressure According to the report, it is not just deadlines or key performance indicators (KPIs), but deep-rooted emotional fatigue—often from strained relationships, unresolved personal conflicts, or lack of mental reset—that is quietly derailing productivity. 'Over 60 per cent of employee stress actually comes from personal and relationship issues, not career pressure,' said Shikhar Malhotra, Director, HCL Corporation and CEO, HCL Healthcare. 'When ignored, these struggles quietly eat into engagement and trust. For companies, investing in emotional health delivers clear returns: fewer sick leaves and absences, higher productivity, and stronger retention.' Studies have found that emotional stress could affect how people consume food which could also lead to junk food addiction and problems related to overeating and nutrient deficiency. Top reasons employees are emotionally struggling HCL Healthcare's data identifies five key emotional challenges in Indian workspaces: Self-esteem and overthinking (34 per cent): Loneliness and intrusive thoughts affect emotional balance. Relationship and family stress (27 per cent): Domestic strain spills into professional lives. Pre-existing mental health conditions (18 per cent): Anxiety, OCD, bipolar disorder, and depression remain under-addressed. Career-related stress (14 per cent): Work-life imbalance, unclear goals, or burnout contribute to poor mental health. Chronic illness-related distress (5 per cent): Ongoing health issues impact focus and mood. Emotional wellbeing now seen as a core business issue According to Malhotra, this is not just a mental health issue, it is a business issue. Emotional wellbeing now plays a central role in productivity, retention, and innovation. In fact, organisations that have invested in timely emotional support and preventive care have seen up to 2.5 times return on investment (ROI), according to HCL Healthcare. How companies can support employee emotional health The report urges India Inc to go beyond token wellness days and instead focus on systemic change. Key recommendations include: Make support accessible: Set up on-site clinics or 24x7 digital platforms where employees can consult mental health experts without stigma. Normalise mental health conversations: Integrate wellbeing into leadership communication, peer support groups, and routine check-ins. Train emotionally aware managers: Equip leaders to recognise distress and refer staff to professional help—therapy, family counselling, or wellness tools. Creating emotionally safe workplaces is the new leadership benchmark 'This is not just about fewer sick leaves or higher output,' Malhotra added. 'It is about creating a workplace where people can show up as whole individuals, not just professionals. That is the new benchmark of great leadership.'
Yahoo
17-05-2025
- Business
- Yahoo
Apple (AAPL) Faces Trump Pushback Over India Manufacturing Shift
Apple (AAPL, Financials) came under scrutiny Thursday as President Donald Trump said he urged CEO Tim Cook to halt product manufacturing in India and prioritize U.S.-based production instead. Trump, citing a little problem with Cook, said he reminded the Apple chief of the company's $500 billion U.S. investment pledge and expressed dissatisfaction over Apple's ongoing expansion in India. Apple currently assembles around 90% of its iPhones in China but is planning to shift about 25% of that production to India in the coming years. Trump also stated that Apple may increase its U.S. manufacturing efforts, although he offered no details. The president's remarks align with recent White House trade measures, including a 26% reciprocal tariff on Indian imports, temporarily lowered until July. India, in response, has offered to drop tariffs entirely on U.S. goods, Trump said. Meanwhile, Apple's main Indian assembly partner, Foxconn, received clearance to build a semiconductor plant in partnership with HCL Group. The move highlights Apple's broader diversification strategy, which includes exploring production in Vietnam as well. Experts say bringing iPhone manufacturing to the U.S. could result in steep price increases. Estimates place the cost of a domestically built iPhone between $1,500 and $3,500. Currently, Apple's only major U.S.-made hardware is the Mac Pro. The company also recently announced a Texas facility for AI server production. The pressure from Trump introduces political and economic tension into Apple's global supply chain strategy, with potential implications for both production costs and market positioning. Investors will be watching how Apple balances political pressure with supply chain resilience and whether it makes further concessions toward onshore manufacturing. See insider trades for AAPL. Explore Peter Lynch chart. This article first appeared on GuruFocus.
Hindustan Times
16-05-2025
- Business
- Hindustan Times
iPhone maker gets Indian government's backing for new chip plant
As former US President Donald Trump lashes out at Apple for shifting iPhone manufacturing to India, Apple's key supplier Foxconn has quietly secured Indian government approval to set up a major semiconductor assembly and test facility in the country. The move signals a deepening of Foxconn's commitment to India and is expected to play a pivotal role in bolstering the nation's ambitions to become a global chipmaking hub. According to a report by CNBC, the Indian government has granted approval for a joint venture between Foxconn and India's HCL Group to build the plant in Uttar Pradesh, a northern state that is quickly becoming a semiconductor development zone. The approval includes a government investment of $433 million, though the total cost of the project has not been disclosed. Indian Minister for Electronics and Information Technology Ashwini Vaishnaw stated that the facility is expected to be operational by 2027, and will be capable of producing up to 20,000 wafers per month, which translates into a potential output of 36 million display driver chips annually. While the announcement is a major milestone for India's semiconductor ecosystem, reports from TechCrunch clarify that this is not a chip fabrication plant. Instead, the upcoming facility will be an OSAT (outsourced semiconductor assembly and test) site. It will focus on packaging and testing chips, particularly display drivers used in smartphones, TVs, and other consumer electronics. At present, there is no indication that Apple will directly source components from this new plant, but Minister Vaishnaw has expressed optimism, stating that India hopes this partnership will eventually lead to Apple processors being made domestically. This latest development comes as Foxconn pushes to double iPhone production in India by the end of 2025—part of Apple's broader strategy to diversify its manufacturing away from China. Foxconn's growing investments in the country are seen as a strategic alignment with both Apple's supply chain goals and India's push for 'Make in India' self-reliance in high-tech manufacturing. Foxconn previously announced a semiconductor joint venture with Vedanta in 2022, but withdrew from the deal in July of that year for unspecified reasons. The new alliance with the HCL Group could signal a course correction and renewed confidence in India's long-term viability as a tech manufacturing powerhouse. Notably, HCL Infosystems, a subsidiary of HCL Group, once distributed iPhones in India before losing its contract in 2018 as Apple reorganised its local distribution network. As Foxconn ramps up its investments and production in India, tensions between the US and China, and now Trump's public critic
Time of India
15-05-2025
- Business
- Time of India
HCL-Foxconn OSAT facility will help meet growing demand for advanced technologies: Roshni Nadar Malhotra
The HCL-Foxconn JV combines HCL's deep-rooted engineering DNA and depth in technology with Foxconn's semiconductor capabilities, chairperson of the HCL Group Roshni Nadar Malhotra , said on Thursday. Nadar-Malhotra's statement comes a day after the consortium received the Cabinet nod for a Rs 3,706 crore outsourced semiconductor assembly and test (OSAT) facility in Uttar Pradesh (UP). "This collaboration will support key sectors such as consumer electronics, automotive, and industrial systems," she said in a statement. "The facility, with a capacity of 20,000 wafers per month, will help meet the growing demand for advanced technologies. It is expected to generate over 3,500 jobs. We are also focused on building semiconductor skills and enabling India's workforce in this field." HCL Group and Hon Hai Technology Group (Foxconn) received the Cabinet's approval on Wednesday to set up an OSAT facility in the Yamuna Expressway Industrial Development Authority (YEIDA) region near Jewar airport. This marks the sixth semiconductor unit to be sanctioned under the India Semiconductor Mission and the first such unit to be set up in UP. Foxconn, on its part, called it a 'landmark decision' that represented a strong vote of confidence in Foxconn's long-term commitment to India's semiconductor and electronics manufacturing ecosystem. "This OSAT venture reflects our strong belief in local partnerships, innovation, and India's potential to emerge as a major hub for advanced semiconductor packaging and testing," Foxconn said. "As we enter the execution phase, Foxconn remains focused on building local capabilities, nurturing talent, and delivering world-class manufacturing outcomes in India." This is Foxconn's second attempt at setting up a semiconductor unit in India. The first time around, the Taiwanese contract manufacturing giant had applied with Vedanta as their partner. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories The upcoming plant will manufacture display driver chips used in mobile phones, laptops, automobiles, PCs, and other devices with displays. This unit is the first-of-its-kind and is expected to contribute significantly to meeting domestic demand for such chips. Union minister for electronics and information technology Ashwini Vaishnaw on Wednesday had said that this plant will contribute to about 40% of India's total demand for display driver chips.
