Foxconn commits to double employment, investments in India

| | New Delhi
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Foxconn commits to double employment, investments in India

Tuesday, 19 September 2023 | PTI | New Delhi

iPhone-maker Apple’s supplier Foxconn has committed to doubling employment, investments and business size in India by next year, underlining its smooth and rapid growth in the country, according to a social media post by a company executive.

 Wishing Prime Minister Narendra Modi on his birthday on Sunday, Foxconn representative V Lee wrote in a LinkedIn post: “Under your leadership, Foxconn has grown smoothly and rapidly in India”.

 “We will work even harder to present you with a greater birthday gift next year, aiming for another doubling of employment, FDI, and business size in India,” Lee said in the post.

 Replying to the post on X (formerly Twitter), IT, Electronics and Communications Minister Ashwini Vaishnaw said that the Government is “fully committed” in its endeavour to support and facilitate.

 Earlier this month, Young Liu, Chairman and CEO of Hon Hai Technology Group (Foxconn), said that India will be an important country in terms of manufacturing in the future, his comment adding to a growing chorus of global voices acknowledging the country’s bold moves to position itself as electronics and hi-tech production powerhouse.

 In an interaction with reporters in Taipei, the top honcho of the Taiwanese electronics manufacturing giant had further said the development of the entire ecosystem and industrial chain, and opportunities for development in India are “very, very huge opportunities”.

 “If there is no big change, India will be a very important country in terms of manufacturing in the future,” Liu had said.

 In the past, it took 30 years to build the entire supply chain ecosystem in China, he noted, adding that while it will take an “appropriate amount of time in India” and the process will be shorter given the experience. The environment too is not quite the same, he had said pointing to the advent of new technologies like AI and generative AI.

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