Taiwan-based Foxconn to open new facility in Hyderabad; create 1 lakh jobs

Hyderabad: Foxconn will set up an electronics manufacturing facility in Telangana that will generate jobs for over 1,00,000 people. Telangana Chief Minister K. Chandrashekar Rao along with Foxconn chairman Young Liu announced the setting up of the facilities in Hyderabad.

The historic deal has potential to generate employment for over one lakh people over a period of 10 years.

Hon Hai Technology Group (Foxconn) and the Government of Telangana signed an agreement at Pragati Bhavan, Hyderabad for the proposed facilities.

KCR said the state government is on a mission to transform Telangana for the better and has undertaken several projects to realise the vision of Bangaru Telangana. “Foxconn’s unit will help in generating large-scale employment for youth and will help attract more such industries to the state,” he said.

Telangana considers Taiwan as a natural partner and that the state is glad to be a part of Foxconn’s growth story, KCR added. State industries and IT minister K.T. Rama Rao expressed happiness that the proposed unit has the potential to provide employment to over one lakh people.

Importance of diversifying electronics manufacturing

KCR and Mr. Liu discussed the importance of diversifying electronics manufacturing for a resilient supply chain and the pivotal role to be played by the state governments.

The Chief Minister said the government has been successful in implementing a new industrial policy and attracted huge investment in Telangana. He said Foxconn’s huge investment and the opportunity to create more than one lakh jobs in Telangana state is commendable. KCR said steps will be taken to ensure that one lakh jobs are available to the local Telangana youth as much as possible.

He assured Mr. Liu that the state government will provide support to Foxconn for its operations in the state.

The Foxconn chairman said his organisation has studied extensively about the state of Telangana. He praised the friendly industrial development ecosystem created in the state and expressed happiness over the progress achieved by Telangana in the industrial sector, especially in IT and related electronics sectors, in just eight years. The chairman said he was optimistic about the investments of his company in Telangana.

Since it was Mr. Liu’s birthday, KCR presented a specially-made greeting card to the Foxconn chairman. The Chief Minister extended birthday greetings to Mr. Liu. After the meeting, the CM hosted lunch for Mr. Liu and his delegation at Pragati Bhavan.