Hon Hai Precision Industry Co., also known as Foxconn, plans to invest NT$50 billion ($1.6 billion) in India for construction projects. The company aims to expand its footprint in India and diversify its business outside of China amid rising tensions between Washington and Beijing. The investment is for operational needs and will be used to build new facilities. Foxconn already operates multiple production campuses and factories in India, generating around $10 billion of revenue annually.