Taiwanese multinational electronics contract manufacturer Foxconn ((Hon Hai Precision Industry Co. Ltd), known for manufacturing iPhones, will set up a manufacturing facility in Telangana’s Kongara Kalan, in Ranga Reddy district. Foxconn Technology Group Chairman Young Liu met Telangana CM K Chandrashekhar Rao on March 2 in Hyderabad, where it was agreed that the company would set up an electronics manufacturing facility, with an employment generation potential of over 1 lakh.
This announcement comes after Karnataka Chief Minister Basavaraj Bommai said that Foxconn would invest in the state, which would create up to 1 lakh jobs in the state. An MOU was also signed in the presence of CM Bommai on Friday, and 300 acres of land was identified in Doddaballapur and Devanagalli taluks near Bengaluru International Airport.
The Telangana Chief Minister’s Office said on Monday that Liu addressed a letter to CM KCR, explicitly confirming the commitment of setting up the manufacturing facility. Liu, in his letter, sought the support of the Telangana administration in operationalising the Kongara Kalan Park as soon as possible.
The CMO stated that the letter clears the doubts raised regarding the company’s dilemma as to whether to set up the manufacturing facility in Telangana or not.
Liu expressed his gratitude for the hospitality extended to him and his team during the Hyderabad visit, and said that they had a wonderful time.
“I was indeed inspired by your vision and the efforts towards transformation and development of Telangana. I now have a new friend in India and I look forward to working with you in future,” he wrote in his letter to CM KCR. Liu also invited CM KCR to Taiwan as his personal guest.
During the March 2 meeting in Pragathi Bhavan in Hyderabad, both CM KCR and Young Liu discussed the importance of diversifying electronics manufacturing for a resilient supply chain and the state’s role in it. The Chief Minister spoke about the new industrial policy that attracted huge investment in the state. CM KCR also commended Foxconn’s investment and its opportunity to create jobs in the state.
Liu also praised the friendly industrial development ecosystem of the state.