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KTR pitches Telangana to Foxconn
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IANS | 23 Jun, 2022
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.
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