India remains the engine of the global economy – and could soon overtake Germany

Bangkok The Sriperumbudur district on the outskirts of the metropolis Chennai is one of those places where optimism about India’s economic rise is particularly high. The Apple supplier Foxconn has been producing the new iPhone 14 here for a few months – for the first time the latest model will be manufactured not only in China but also in an Indian factory shortly after it goes on sale.

The decision has apparently paid off: While Foxconn’s largest plant in China has been massively affected by corona measures and protests, Apple can rely on deliveries from Sriperumbudur.

The factory is therefore facing rapid expansion: According to media reports, Foxconn is planning to increase the workforce from the current 18,000 employees to around 70,000 within the next two years.

The strong investments by international corporations are fueling the economy in India, which is able to establish itself as one of the few hopes for growth in the midst of global economic turbulence.