KTR Pitches Telangana To Foxconn

K T Rama Rao, Telangana's Industries Minister, met Young Liu, Chairman of Foxconn in New Delhi today. Taiwan's Hon Hai Technology Group (Foxconn) (TWSE: 2317) is one of the leading EMS (electronic manufacturing services) providers worldwide, and one of the largest suppliers for many top-tier international companies. Foxconn has manufacturing units in Tamil Nadu and AP. Hon Hai's worldwide revenue reached USD 206 billion in 2021. Hon Hai ranked 22nd on the Fortune Global 500 in 2021.

During the interaction, Minister and Young Liu discussed Foxconn's plans of expanding in India. As part of the meeting, the IT minister pitched Telangana to Foxconn corporation officials for potential investment opportunities.

Young Liu was also briefed by KTR on the initiatives taken by the Telangana State Government to foster electronics manufacturing in the state.

Chairman Liu was pleased to note the progress made by Telangana in the last 8 years. Young Liu discussed the company's future plans and 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 exploring the opportunities that Telangana as a state offers.”

The state has emerged as a preferred investment destination for investments in the electronics sector. It also boasts of a vibrant R&D and innovation ecosystem and is equipped with robust industrial infrastructure that is well-positioned to meet the requirements of global majors. Principal Secretary ITE&C, I&C Jayesh Ranjan and Director Electronics Sujai Karampuri were also present during the meeting.