KTR pitches Telangana to Foxconn

KTR put forth Telangana’s proposal to the officials for potential investment opportunities in the State.

KTR pitches Telangana to Foxconn

HYDERABAD: Telangana Minister for IT and Industries K T Rama Rao met Mr. Young Liu, Chairman of Foxconn in New Delhi on Thursday to discuss Foxconn's plans of expanding its footprint in India. KTR put forth Telangana's proposal to the officials for potential investment opportunities in the State.

KTR further briefed Young Liu on the initiatives undertaken by the State Government towards creating an enabling environment for electronics manufacturing in Telangana. Young Liu was pleased to note the progress made by the State in last 8 years.

Chairman Liu, speaking about the company's future plans said, "India is an attractive manufacturing destination, and we would like to see how we can expand our manufacturing footprint. Our India experience has been exciting, and we look forward to explore the opportunities that Telangana as a state offers."

Replying to this, KTR 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."

Taiwan-based Hon Hai Technology Group (Foxconn) is one of the leading electronics manufacturing services (EMS) provider globally and 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 USD 206 billion worldwide. The company ranked 22nd on the Fortune Global 500 in 2021.

Telangana has emerged as a preferred investment destination for investments in 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.

Principal Secretary ITE&C Jayesh Ranjan and Director Electronics Sujai Karampuri were also present during the meeting.

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