New Delhi, May 21: Taiwanese tech giant Foxconn is investing another $1.5 billion to expand its operations in India, as the key supplier for Apple's iPhones is looking to set up supply chains outside China. The Taiwanese tech giant said its Singapore-based arm has injected $1.5 billion into the company's Indian subsidiary with the purchase of 12.7 billion shares. Foxconn's Indian subsidiary Yuzhan Technology India, makes components for smartphones in Tamil Nadu. The development comes close on the heels of the Indian government granting approval, last week, to Foxconn to build a semiconductor plant near the Noida airport as part of a Rs 3,700 crore joint venture with the HCL Group. The facility will produce display driver chips for mobile phones, laptops, automobiles, PCs, and various other display-equipped devices. Luminar Layoffs: US-Based LiDAR and Self-Driving Tech Developer Cuts More Jobs Amid Ongoing Restructuring, Sudden Departure of CEO Austin Russell. It is designed to handle 20,000 wafers every month, with an output capacity of 36 million units per month. "Already, five semiconductor units are in advanced stages of construction. With this sixth unit, Bharat moves forward in its journey to develop the strategically vital semiconductor industry," according to an official statement. India's semiconductor landscape is taking shape with rapid momentum. Cutting-edge design infrastructure has been established in several states, with state governments actively encouraging design firms to set up operations. At the academic and startup level, students and innovators across 270 institutions and 70 startups are developing advanced design technologies aimed at creating next-generation semiconductor products. Notably, 20 of these student-designed products have already been taped out at SCL Mohali, the government said. Supporting infrastructure is also expanding alongside. Key global players such as Applied Materials and Lam Research, leading equipment manufacturers, have set up operations in India. Chemical and gas suppliers like Merck, Linde, Air Liquide, and Inox are also preparing to scale up to meet the needs of the growing domestic semiconductor sector. Railtel Share Price Today, May 21: Stocks of Railtel Corporation of India Limited Jump 0.41% in Early Trade, Check Latest Price on NSE. As demand for semiconductors surges - driven by manufacturing growth in areas like mobile phones, laptops, servers, medical equipment, defence systems, and consumer electronics - this upcoming facility is expected to further contribute to Prime Minister Narendra Modi's vision of Atmanirbhar Bharat.