Foxconn's Expanding Horizons: A Deep Dive into Investments in India

Foxconn Chairman Young Liu met with Prime Minister Narendra Modi to discuss the company's significant investment plans in India. Their dialogue covered opportunities in Karnataka, Tamil Nadu, and Andhra Pradesh. Foxconn is expanding its iPhone production, setting up a chip plant with HCL, and launching EV and Airpods units.

Foxconn's Chairman Young Liu engaged in a high-profile meeting with Prime Minister Narendra Modi on Wednesday to deliberate on the company's expansive investment strategy in India.

Prime Minister Modi highlighted the burgeoning opportunities in various advanced sectors during the meeting. ''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 Pradesh,'' Modi articulated through a social media post.

Liu had previously visited India in July last year for the Semicon India conclave, where he also conversed with Prime Minister Modi. This year, Liu received the Padma Bhushan, India's third-highest civilian award, on the eve of the 75th Republic Day. Foxconn, employing over 40,000 individuals in India, is poised to inject USD 9-10 billion into the country's economy. This investment underscores their efforts in broadening iPhone production capabilities, establishing a chip manufacturing facility in collaboration with HCL Group, and initiating production units for electric vehicles and Apple Airpods.

(With inputs from agencies.)