Apple supplier Foxconn will invest $1.5 billion in its India unit, the company said in a filing, as the iPhone maker shifts more manufacturing out of tariff-hit China.

Foxconn is investing $1.5 billion in its Singapore subsidiary, Hon Hai, which is building and expanding plants in India, according to Bloomberg. A stock exchange filing describes this as a "long term investment,

Foxconn’s Indian plants have taken centre stage in assembling iPhones, and the ecosystem is expanding rapidly with contributions from other major players.