Foxconn, a Taiwan-based contract manufacturer and Apple’s biggest supplier, has approved an investment of USD 400 million in Telangana. This investment is in addition to the previously committed USD 150 million. The India representative of Foxconn, V Lee, announced this news on social media, stating that the investment is coming quickly. Telangana Minister for IT and Industries, K T Rama Rao, responded to the announcement, expressing that the friendship between Telangana and Foxconn remains strong and that the company’s investments will create 25,000 direct jobs in the first phase.
In May, Foxconn Interconnect Technology laid the foundation for a new electronics manufacturing facility in Telangana. This facility will serve as a hub for the company’s operations in the state and allow for an expansion of production capacity. The chairman of Foxconn Technology Group, Young Liu, along with senior officials of the company, met with Telangana Chief Minister K Chandrasekhar Rao earlier this year.
Overall, Foxconn’s investment of USD 400 million demonstrates their commitment to expanding their global manufacturing base and creating job opportunities in Telangana.
