Foxconn chairman meets PM Modi, discusses investment plans in Karnataka, Tamil Nadu, Andhra
Aug 14, 2024
New Delhi [India], August 14 : Prime Minister Narendra Modi on Wednesday met Young Liu, Chairman of Hon Hai Technology Group (Foxconn) and highlighted the opportunities India offers in the futuristic sectors.
The Foxconn chairman also discussed with PM Modi the company's investment plan 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 wonderful opportunities India offers in futuristic sectors. We also had excellent discussions on their investment plans in India in states like Karnataka, Tamil Nadu and Andhra Pradesh," PM Modi posted on X.
Taiwanese electronics major Foxconn has been actively expanding its business in India. The company is the world's largest electronics manufacturer and a leading global science and technology solutions provider.
The company announced last year that it aims to double its workforce and investment in India. Karnataka government and Foxconn last year signed a Letter of Intent (LOI) for two projects with an estimated investment outlay of Rs 5,000 crore.
Foxconn, which has a facility in Chennai, last year also signed a letter of intent (LoI) with the Tamil Nadu government to establish a new mobile component manufacturing facility in Kancheepuram.
According to the company, it has expanded its capabilities in the development of electric vehicles, digital health and robotics but also 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 centres in other parts of the world including China, India, Japan, Vietnam, Malaysia, Czech Republic and the US.
