Apple iPhone supplier Foxconn has announced the setting up of a major manufacturing facility in Telangana, which will create job opportunities for more than 1,00,000 people.
Taiwanese electronics major Hon Hai Technology group's subsidiary Foxconn and the Telangana government have signed an MoU, under which the company will invest in the state and create more than 1 lakh jobs in the 10-year period. The MoU was signed after Foxconn chairman Young Liu meet state chief minister K. Chandrashekar Rao.
Young Liu visited Telangana to inaugurate the largest prototyping centre called T-Works in the country. T-Works is an initiative of the government of Telangana, which aims to create and celebrate a culture of hobbyists, makers, and innovators in India, who explore and experiment without the fear of failure.
T-Works helps rural innovators transform their perfect ideas into dream products. The organisation will help the rural innovators develop prototypes of their products, which include electric go-karting vehicles, seed-sowing tools and bio-pots to name just a few.
"Super stoked to announce a mega investment by @HonHai_Foxconn in Telangana that will create employment for a whopping One Lakh youngsters in Telangana," said state IT minister K. T. Rama Rao.
"One of our slogans during the statehood fight was employment. With the mega-investment coming our way in the form of Foxconn, and the huge employment opportunities it brings, youngsters of Telangana state will truly be happy," he said.
The minister said besides information technology, in my mind, IT also stands for India and Taiwan. "India is a powerhouse in software and Taiwan in hardware. If we can synergise, the collaboration can bring out some world-class products," he added.
Young Liu said he was "impressed" with Telangana's speed of making T Works work. "Fast is key. This is very critical for the hi-tech industry. With Telangana's speed, we can do almost everything!" he said after the inauguration, adding that Foxconn will donate 1 industrial-grade SMT line to support T-works.
Earlier, Liu had met with Prime Minister Narendra Modi and assured the company's commitment to continue to build an ecosystem in India, allowing all stakeholders to share, collaborate and thrive.
Notably, Foxconn is the world's largest technology manufacturer and service provider. The Taiwanese electronics hardware major has also formed a JV with Anil Agarwal-led Vedanta Group to make semiconductors in India. They have selected Dholera Special Investment Region (SIR) in Gujarat for setting up India’s first semiconductor manufacturing facility. It is touted to be the country’s largest chip manufacturing facility, where the expected investment is said to be around ₹1.54 lakh crore.
Agarwal had last year said that the facility will help make India's Atmanirbhar Silicon Valley a reality and will officially kickstart India's journey from "being a Chip Taker to a Chip Maker.” The Dholera semiconductor facility will generate around one lakh direct jobs and will reduce electronics imports from the country, according to Agarwal. Gujarat had earlier introduced the Gujarat Semiconductor Policy 2022-27, which aims to provide incentives such as subsidised water and electricity for companies who will invest in semiconductor manufacturing in the state.
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