After meeting Liu, PM Modi wrote on X that he explained the wonderful opportunities the country holds as we have discussed to expand Foxconn's business in India (Image: X @ Narendra Modi)
India’s southern states will likely be one of the biggest beneficiaries of the new expansions of Hon Hai Technology Group alias Foxconn which is considered the world’s largest contract electronics maker, planning to shift some of its manufacturing away from China.
On August 14, Foxconn CEO Young Liu visited Narendra Modi and revealed that the company is gearing up to diversify its business in India. Earlier this year Young Li was bagged with the third most civilian award, Padma Bhushan.
After meeting Liu, PM Modi wrote on X that he explained the wonderful opportunities the country holds as we have discussed to expand Foxconn’s business in India, especially in the southern states including Tamil Nadu and Karnataka.
Wonderful to meet Mr. Young Liu, the Chairman of Hon Hai Technology Group (Foxconn). I highlighted the wonderful opportunities India offers in futuristic sectors. We also had excellent discussions on their investment plans in India in states like Karnataka, Tamil Nadu and Andhra… pic.twitter.com/5tT4xfF51u
— Narendra Modi (@narendramodi) August 14, 2024
Young Liu also met opposition leader Rahul Gandhi as the company is set to diversify its business in 4 key areas: Andra Pradesh, Tamil Nadu, Karnataka and Telangana. The company has already invested around $10 billion ahead of its business expansion.
It was a pleasure to meet Mr. Young Liu, Chairman of Foxconn, earlier today.
We had an engaging conversation on the future of technological innovation in India and the world.
With the right support, India’s tech industry can be positioned for a significant leap forward. pic.twitter.com/Vh8P3RGGk3
— Rahul Gandhi (@RahulGandhi) August 16, 2024
Foxconn, the Taiwan-based company is the world’s largest contract manufacturer which assembles nearly 70% of iPhones. Amid geopolitical tensions and following COVID-19 disruptions, the technology giant has been diversifying production away from China. The company has expanded its outreach to India, especially in manufacturing facilities in Southern India. The business, which is well-known for making Apple iPhones, already has an iPhone factory in Tamil Nadu that employs close to 40,000 people.
Also, read| Foxconn CEO Young Liu Honoured With Padma Bhushan
