KTR invites Foxconn to invest in Telangana
Hyderabad: Industries and IT Minister KT Rama Rao has invited Taiwanese multinational electronics contract manufacturer Foxconn to invest in Telangana. He met with Foxconn Chairman Young Liu in New Delhi on Thursday. Taiwan-based Hon Hai Technology Group, popular as Foxconn, is one of the leading electronics manufacturing services (EMS) provider globally and is one of […]
Hyderabad: Industries and IT Minister KT Rama Rao has invited Taiwanese multinational electronics contract manufacturer Foxconn to invest in Telangana. He met with Foxconn Chairman Young Liu in New Delhi on Thursday.
Taiwan-based Hon Hai Technology Group, popular as Foxconn, is one of the leading electronics manufacturing services (EMS) provider globally and is one of the largest suppliers for many top tier international customers. Foxconn has manufacturing units in Tamil Nadu and Andhra Pradesh. In 2021, Hon Hai‘s annual revenue reached $206 billion worldwide. The company ranked 22nd on the Fortune Global 500 in 2021.
During the interaction, Rama Rao and Young Liu discussed Foxconn’s plans of expanding its footprint in India. Rama Rao took the opportunity to pitch Telangana to the officials from Foxconn Corporation present during the meeting for potential investment opportunities. He briefed Young Liu on the initiatives undertaken by the Telangana Government towards creating an enabling environment and infrastructure for fostering electronics manufacturing in Telangana.
“Foxconn is one of the biggest employers globally in the domain of electronics manufacturing. We are excited about their decision to venture into EV manufacturing too. I assure the company of the best support possible from Telangana and invite the team to explore Telangana,” said Rama Rao.
Young Liu was pleased to note the progress made Telangana in last eight years. “India is an attractive manufacturing destination, and we would like to see how we can expand our manufacturing footprint. Our India experience has been exciting and we look forward to explore the opportunities that Telangana as a State offers,” Liu said on Foxconn’s plans.
Telangana has emerged as a preferred investment destination for investments in electronics sector and boasts of a vibrant research and development and innovation ecosystem. The State has robust industrial infrastructure and is well positioned to meet the requirements of global majors.
Industries and IT Principal Secretary Jayesh Ranjan and Director Electronics Sujai Karampuri were also present during the meeting, a release said.
