India’s southern state of Karnataka is in serious talks with Taiwan’s Foxconn over investment plans, Chief Minister Basavaraj Bommai said Wednesday, 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.
Based in Taiwan, Foxconn already has offices in Andhra Pradesh and Tamil Nadu, where it makes products for companies like Apple And Amazon.com.
Foxconn spokesman James Wu, chief investment officer James Tu and several other executives attended the occasion, according to an official press release.
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).
“With a strong and stable industrial policy, our goal is to make Karnataka a major electronics and manufacturing hub. With Foxconn’s potential investment, the state is preparing to become the top in the country to attract many other global electronics companies,” said Large and Medium Industries Minister Murugesh Nirani.
Gunjan Krishna said the government wants to fully support Foxconn and is excited that Karnataka is being considered as a potential investment destination.
