Foxconn, a Taiwanese multinational electronics contract manufacturer, has been invited to invest in Telangana by Industries and IT Minister KT Rama Rao. During his visit to New Delhi on Thursday, he met with Foxconn Chairman Young Liu.
Foxconn, based in Taiwan, is one of the largest international suppliers for many top-tier international customers and is one of the most prominent electronics manufacturing services providers in the world. Andhra Pradesh and Tamil Nadu are the states where Foxconn has manufacturing units.
A total of $206 billion was generated by Hon Hai in 2021 on a worldwide basis. In 2021, the company ranked 22nd on the Fortune Global 500.
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Young Liu and Rama Rao discussed Foxconn’s plans to expand its presence in India during their interaction. During the meeting, Rama Rao presented Telangana as an investment opportunity to Foxconn Corporation officials. During the meeting, he informed Young Liu about the initiatives the Telangana Government is taking to create a conducive environment and infrastructure for electronics manufacturing in the state.
In the field of electronics manufacturing, Foxconn is one of the biggest employers in the world. Their decision to enter the EV manufacturing market is exciting to us as well. “When the company comes to explore Telangana, I assure them of the best support from Telangana,” said Rama Rao.
Telangana has made significant progress over the past eight years, according to Young Liu. We intend to expand our manufacturing footprint in India, which is an attractive manufacturing destination. Foxconn looks forward to exploring the opportunities that Telangana as a State offers,” Liu said on Foxconn’s plans for India.
Its vibrant research and development and innovation ecosystem have made Telangana a preferred investment destination in the electronics sector. As a result of its robust industrial infrastructure, the State is well positioned to meet the demands of global majors.
The meeting was attended by Principal Secretary of Industries and IT Jayesh Ranjan and Director Electronics Sujai Karampuri, according to a release.
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