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Foxconn has set up a joint venture with Indian IT giant HCL Group to establish its semiconductor packaging and testing operations in India, as the Apple manufacturing partner looks to expand its presence in the South Asian nation to reduce reliance on China.

As a part of the deal, Foxconn Hon Hai Technology India Mega Development, a subsidiary of the Taiwanese company, will invest $37.2 million for a 40% stake, it disclosed in a stock exchange filing.

This will be Foxconn’s first investment toward setting up Outsourced Semiconductor Assembly And Test (OSAT) operations in India. The company has committed to putting billions of dollars into the country to bolster its domestic manufacturing for customers including Apple and Xiaomi.

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