The government of Telangana and Hon Hai Technology Group (Foxconn) have joined hands to set up the company’s electronics manufacturing unit in the state.
The announcement was made following a meeting between the Chief Minister of Telangana, K. Chandrashekar Rao, and Young Liu, chairman, Foxconn. Rao and Liu discussed the importance of diversifying electronics manufacturing for a resilient supply chain and the pivotal role to be played by the state governments. According to Liu, Foxconn has studied extensively the state of Telangana and praised the friendly industrial development ecosystem created in the state. Meanwhile, Rao noted that the investment will ensure 100,000 jobs for the local youth of the state.
In addition, Liu and KT Rama Rao, Minister for IT, Industries and Commerce and Municipal Administration and Urban Development, government of Telangana, inaugurated ‘T Works’, a prototyping facility. Liu said that his company is looking at sites and is currently evaluating the kind of products to be made in the state. The amount of investment depends on the products they plan to make.
