Prime Minister Narendra Modi met with Young Liu, Chairman of Hon Hai Technology Group (Foxconn), on Wednesday and highlighted the opportunities India offers in futuristic sectors. The Foxconn chairman also discussed the company’s investment plans in states such as Karnataka, Tamil Nadu, and Andhra Pradesh.
“Wonderful to meet Mr. Young Liu, the Chairman of Hon Hai Technology Group (Foxconn). I highlighted the excellent opportunities India offers in futuristic sectors. We also had productive discussions on their investment plans in India, including in states like Karnataka, Tamil Nadu, and Andhra Pradesh,” PM Modi posted on X.
Taiwanese electronics giant Foxconn has been actively expanding its business in India. The company, which is the world’s largest electronics manufacturer and a leading global science and technology solutions provider, announced last year that it aims to double its workforce and investment in India. The Karnataka government and Foxconn signed a Letter of Intent (LOI) last year for two projects with an estimated investment of Rs 5,000 crore.
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Foxconn, which already has a facility in Chennai, also signed an LOI with the Tamil Nadu government last year to establish a new mobile component manufacturing facility in Kancheepuram. According to the company, it has expanded its capabilities in electric vehicles, digital health, and robotics, as well as in three key technologies: AI, semiconductors, and new-generation communications technology. In 2023, Foxconn’s annual revenue reached USD 198 billion.
The company has established R&D and manufacturing centers in various parts of the world, including China, India, Japan, Vietnam, Malaysia, the Czech Republic, and the US.
(WITH INPUTS FROM ANI)
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