Foxconn India revenue tops $20 billion in FY25, staff strength hits 80K

Taiwanese electronics manufacturing major Foxconn is reported to have more than doubled its revenue in India to over USD 20 billion (about Rs 1.7 lakh crore) in the financial year 2024-25 on account of a jump in iPhone production, sources aware of the development said.

The company is also learnt to have increased its total employee count in the country by over 65 per cent to around 80,000 in fiscal year 2025, industry and government sources aware of the estimates told PTI.

"Foxconn revenue in India has more than doubled to over USD 20 billion in the financial year 2024-25. The employee count has also gone over 80,000," one of the sources said.

 

Email query sent to Foxconn in this regard elicited no reply.

Union Minister Ashwini Vaishnaw earlier this month announced that mobile phone exports from India have crossed an all-time high of Rs 2 lakh crore in FY 2024-25 in which iPhone exports alone accounted for exports worth Rs 1.5 lakh crore.

Sources said that Foxconn is expected to grow multifold in the current fiscal year as the iPhone maker is reportedly mulling to manufacture all iPhones for sale in the US market.

Foxconn is the biggest manufacturer of iPhones. The company is already in the process of setting up its second largest facility outside China in Devanahalli near Bangalore with an investment of USD 2.8 billion, (about Rs 25,000 crore).

The facility is expected to create over 40,000 jobs.

The Taiwanese electronics manufacturing giant is also in discussion with the UP government to set up an electronics manufacturing unit in Uttar Pradesh which is also expected to be spread over an area of 300 acres.

Besides mobile phone manufacturing, Foxconn has started production of AirPods in Hyderabad facility for exports with an investment of USD 400 million (about Rs 3,325 crore).

Foxconn is also setting up a semiconductor joint venture, Vama Sundari, with HCL.

The JV will initially invest Rs 3,706 crore in setting up an outsourced semiconductor Assembly and Test (OSAT) facility and expects to create around 4,000 jobs.