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Foxconn, best known as the maker of the iconic Apple iPhone, is looking to enter the electric vehicle (EV) manufacturing space in India, according to people directly in the know who said the Taiwanese contract manufacturer has been in talks with some state governments to further its plans.
Prices of most electronic components for television, mobile phones, appliances and computers, and the freight cost of shipping them to factories have eased to pre-Covid levels after touching record highs in the last two years.
India’s merchandise exports contracted for the fourth straight month in May, declining 10.3% from a year earlier to $35 billion, data released on Thursday showed.
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