Mr. K.T. Rama Rao, the Information Technology and Urban Development Minister of Telangana, on the 23rd of June, met Young Liu, the Chairman of Foxconn.
The meeting with the Taiwan-based Hon Hai Technology Group (Foxconn) was held in Delhi. During the meeting on Thursday, the Telangana Rashtra Samithi (TRS) leader
Foxconn has manufacturing units in Tamil Nadu and Andhra Pradesh. In 2021, Hon Hai’s annual revenue reached USD 206 billion worldwide. The company ranked 22nd on the Fortune Global 500 in 2021.
and Young Liu discussed Foxconn’s plans of expanding its footprint in India and Mr. K.T. Rama Rao pitched for business expansion in Telangana.
Mr. K.T. Rama Rao further briefed Mr. Young Liu on the initiatives undertaken by the K. Chandrashekar Rao-led State Government towards creating an enabling environment and infrastructure for fostering electronics manufacturing in Telangana.
Mr. Young Liu said, “India is an active 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 exploring the opportunities that Telangana as a state offers.”
On the other hand, Mr. K.T. Rama Rao 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.”
Notably, the Telangana Government is aiming to attract foreign investment for the development of the State in various sectors, especially Information Technology and electronics.
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