Apple’s Chinese supplier Luxshare Precision gives up $330 million investment in India

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It announced in May 2023 that it would shift its investment in India to Vietnam, planning to invest $183.7 million in the production of electronic components.</p> <p>Luxshare Precision's withdrawal reflects a determined decision after facing numerous challenges during its years of operation in India, Liu Zongyi, secretary-general of the Research Center for China-South Asia Cooperation at the Shanghai Institutes for International Studies, told the Global Times on November 19.</p> <p>"This decision may affect manufacturing enterprises in Apple's supply chain and the overall supply chain for Apple phones in India," said Liu.</p> <p>The shift indicates the rising protectionism of the Indian market against foreign investors, particularly those from China, which will shatter the confidence of other investors in the South Asian market, added Liu.</p> </div> <div class="tags flex-row-feft">  <a href="/search/supply%20chain" target="_blank" >supply chain</a > <a href="/search/India" target="_blank" >India</a > <a href="/search/Luxshare" target="_blank" >Luxshare</a > <a href="/search/Apple" target="_blank" >Apple</a > <a href="/search/Luxshare" target="_blank" >Luxshare</a > </div> <div class="shareList flex-row-feft"> <img src="/images/08d82def397b937d6afb4a6f9b862a8b.png" alt="linkedin" onclick="shareLinkedin()" /> <img src="/images/a0ff8165efe409e3fc922478f96afd93.png" alt="twitter" onclick="shareTwitter()" /> <img src="/images/e1163fca54550c2bd2fe0ffffd4f4fb0.png" alt="facebook" onclick="shareFaceBook()" /> <img src="/images/450cf2d3105fdd1ce67d5c3090643f07.png" alt="line" onclick="shareLine()" /> <div class="toast">Copy succeeded</div> <img src="/images/94bcdf0c33fc092bf26cdc1b10d91ea5.png" alt="link" onclick="copyfun()" /> <textarea style="position: absolute; 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Apple’s Chinese supplier Luxshare Precision gives up $330 million investment in India