New Delhi: On Wednesday, Prime Minister Narendra Modi engaged in a meeting with Young Liu, the Chairman of Hon Hai Technology Group (Foxconn), during which he underscored the vast opportunities India presents in the realm of futuristic sectors.
During the discussion, Mr. Liu also shared insights into Foxconn's investment strategy across various states, including Karnataka, Tamil Nadu, and Andhra Pradesh.
"It was a pleasure to meet Mr. Young Liu, the esteemed Chairman of Hon Hai Technology Group (Foxconn). We highlighted the remarkable opportunities India offers in futuristic sectors. Our conversation was also enriched with discussions on their investment plans in India, particularly in states such as Karnataka, Tamil Nadu, and Andhra Pradesh," Prime Minister Modi expressed on his official social media platform.
Foxconn, a leading Taiwanese electronics manufacturer and a prominent provider of global science and technology solutions, has been actively expanding its operations in India. As the world's largest electronics manufacturer and a frontrunner in the field of science and technology solutions, the company has been at the forefront of India's industrial landscape.
In line with its strategic vision, Foxconn announced its ambition to more than double its workforce and investment in India. Last year, the Karnataka government and Foxconn entered into a Memorandum of Understanding (MoU) for two projects, with an anticipated investment of Rs 5,000 crore.
Furthermore, Foxconn, which operates a facility in Chennai, signed a Memorandum of Understanding (MoU) with the Tamil Nadu government to establish a new mobile component manufacturing facility in Kancheepuram.
The company has been enhancing its capabilities in the development of electric vehicles, digital health, robotics, and three critical technologies: artificial intelligence, semiconductors, and new-generation communication technologies. With an annual revenue of USD 198 billion, Foxconn has established Research and Development (R&D) and manufacturing centers globally, including China, India, Japan, Vietnam, Malaysia, Czech Republic, and the United States.
