Apple supplier Foxconn to invest in Telangana for electronics manufacturing plant

Apple supplier Foxconn will invest an undisclosed sum in the southern Indian state of Telangana in an electronics manufacturing plant in the southern Indian state, the chief minister said on Thursday. of State.

The investment will create 100,000 jobs in the state, Telangana IT Minister KT Rama Rao said. The announcement follows a meeting between the chief minister of Telangana and the chairman of Foxconn earlier in the day.

Taiwan-based Foxconn already has a presence in Andhra Pradesh and Tamil Nadu, where it manufactures products for companies such as Apple and Amazon.com.

It was reported earlier last month that the southern Indian state of Karnataka was also in serious talks with Taiwan’s Foxconn over investment plans, Chief Minister Basavaraj Bommai confirmed, turning him potentially in India’s third state to host Foxconn.

“We are in serious discussion on investment plans with Hon Hai Technology Group (Foxconn) at their Taiwan headquarters and look forward to a fruitful collaboration,” Bommai said in a tweet. “We remain committed to welcoming the best businesses to the state and reaping rewards for our people.”

The state’s investment promotion arm also tweeted that representatives held a meeting at the company’s Taiwan headquarters to discuss the investment, without providing further details.

Foxconn is said to be the largest electronics manufacturer in the world. As of last year, it ranks 20th in the Fortune Global 500.

Foxconn has 173 campuses and offices in 24 countries or regions around the world.

The Company’s main product segments include smart consumer electronics (smartphones, televisions, game consoles, among others), cloud and network products (servers, communication networks), computing products (computers, tablets) and components and others (connectors, mechanical parts). , services).

Meanwhile, a joint venture between Indian conglomerate Vedanta and electronics manufacturing giant Foxconn had finalized the Dholera Special Investment Region near the city of Ahmedabad in Gujarat in February for the establishment of its electronics manufacturing plant. semiconductors and displays, a senior state government official said.