Apple supplier Foxconn invests in production facility in Telangana

Apple supplier Foxconn will invest an undisclosed sum in electronics manufacturing in the southern Indian state of Telangana, the state premier said on Thursday.

The investment will create 100,000 jobs in the state, Telangana’s IT Minister KT Rama Rao said. The announcement followed a meeting between the Chief Minister of Telangana and the Chairman of Foxconn earlier in the day.

Based in Taiwan, Foxconn already has offices in Andhra Pradesh and Tamil Nadu, where it makes products for companies like Apple And Amazon.com.

It was reported Earlier last month, India’s southern state of Karnataka was also in serious talks with Taiwan’s Foxconn over investment plans, Chief Minister Basavaraj Bommai confirmed, and could potentially set it up as Foxconn’s third Indian state.

“We are in serious talks about investment plans with Hon Hai Technology Group (Foxconn) at their headquarters in Taiwan and look forward to a fruitful cooperation,” Bommai said in a tweet. “We remain committed to welcoming the best companies in the state and reaping rewards for our employees.”

The state’s investment promotion department also tweeted that officials were holding a meeting at the company’s headquarters in Taiwan to discuss the investment, without giving further details.

Foxconn is considered the largest electronics manufacturer in the world. As of last year, it ranks 20th on the Fortune Global 500.

Foxconn has 173 locations and offices in 24 countries or regions around the world.

The Company’s main product segments include intelligent consumer electronics (including smartphones, televisions, game consoles), cloud and network products (servers, communication networks), computing products (computers, tablets), and components and others (connectors, mechanical parts). , Services).

Meanwhile, a joint venture by Indian conglomerate Vedanta and electronics giant Foxconn announced in February completed the Dholera Special Investment Region near the city of Ahmedabad in Gujarat for building its semiconductor and display manufacturing facility, a senior government official said.