KTR woos Foxconn, assures all support

Hyderabad: IT Minister K T Rama Rao on Thursday assured the Foxconn chairman Young Liu best support possible from the government and invited the company team to explore the State. The Taiwan-based Hon Hai Technology Group (Foxconn) is one of the leading electronics manufacturing services (EMS) providers globally.

It 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 $US 206 billion worldwide. The company was ranked 22nd on the Fortune Global 500 in 2021.

During the interaction, KTR and Young Liu discussed Foxconn plans of expanding its footprint in India. The Minister also took the opportunity to pitch Telangana to officials from Foxconn corporation for potential investment opportunities.

He briefed Young Liu on the initiatives undertaken by government towards creating an enabling environment and infrastructure for fostering electronics manufacturing in Telangana. Young Liu was pleased to note the progress made by the State in the last eight years.

Liu discussed the company's future plans and said, "India is an attractive manufacturing destination; we would like to see how we can expand our manufacturing footprint. Our India experience has been exciting; we look forward to exploring the opportunities that Telangana offers."

Rao 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." He said Telangana has emerged as a preferred investment destination in the 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.