Foxconn says no ‘definitive agreements’ for new India investment
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Taiwanese tech giant Foxconn confirmed on Saturday that its chairman had visited India, but denied it had "entered into any binding, definitive agreements" after reports saying it was planning new investments in the country. Also known by its official name, Hon Hai Precision Industry, Foxconn is the world's biggest contract electronics manufacturer and a principal assembler of Apple iPhones. Both companies are seeking to diversify away from China, where much of their manufacturing is based, after strict Covid policies last year and ongoing diplomatic tensions with the United States hurt production. Foxconn said in a statement on Saturday that no deals had been finalised during chairman and CEO Young Liu's visit to India from February 27 to March 4. "Foxconn has not enter...