June 26, 2022
1 min read

Telengana welcomes Foxconn

Foxconn has manufacturing units in Tamil Nadu and Andhra Pradesh. In 2021, Hon Hai’s annual revenue reached $206 billion worldwide….reports Asian Lite News

Telangana Industries Minister K.T. Rama Rao on Thursday invited Foxconn to invest in the state.

The minister met visiting Foxconn Chairman Young Liu in New Delhi, and they discussed Foxconn’s plans of expanding its footprint in India.

KTR, as the minister is popularly known, also took the opportunity to pitch Telangana to officials from Foxconn Corporation present during the meeting for potential investment opportunities.

Taiwan-based Hon Hai Technology Group (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.

KTR briefed Liu on the initiatives undertaken by the state government towards creating an enabling environment and infrastructure for fostering electronics manufacturing in Telangana, and the Foxconn chief was pleased to note the progress made by the state in last eight years.

Discussing the company’s future plans, Liu said: “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.”

KTR said: “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.”

Telangana has emerged as a preferred investment destination for investments in electronics sector and boasts of a vibrant R&D and innovation ecosystem. The state is equipped with robust industrial infrastructure and is well positioned to meet the requirements of global majors, he added.

ALSO READ: Dubai tourism back on its feet

Previous Story

Kashmir witnesses tourism boom

Next Story

Uber rules out exiting India

Latest from Business

GST Reform Fuels Record Car Sales Surge

India’s automotive industry is experiencing a massive boost following the implementation of GST 2.0, with car sales more than doubling to over half a million units in just a month, according to

India’s E&M Sector Enters a New Growth Phase

India’s cinema market is multilingual, and many regional industries are now rivalling Hindi output in volume and box-office share … writes Rafeek Ravuther The Indian film sector is undergoing a meaningful transformation.

SBI Simplifying KYC Process

SBI’s research arm noted that the RBI’s decision to maintain the policy rate reflects a balanced approach amid global uncertainties, supported by stable liquidity and external conditions State Bank of India (SBI)

UPI Powers Digital Revolution

New innovations such as LiteX (offline payments), tap-and-pay, credit card integration, UPI Autopay, and UPI for IPO subscriptions are pushing the platform from a payment tool to a full-fledged embedded finance ecosystem Unified
Go toTop

Don't Miss

Google to partner digitisation in farming, education for Telangana

The Google VP also discussed the investment plans of the

Naidu Invites WB, ADB to Partner In Amaravati Development

Naidu said he invited both banks to partner in this