KTR pitches Telangana to Foxconn

Top Stories

»	Indian stock markets remain closed on Ambedkar Jayanti
»	Indian stock markets slump 2 pc amid fresh jitters as US-Iran talks fail
»	Indian rupee gains ahead of RBI deadline to unwind positions
»	Crude oil prices jump up to 4 pc on Hormuz tensions, ceasefire doubts
»	RBI holds repo rate at 5.25 pc, maintains neutral instance amid global uncertainty

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.