Explorer

Foxconn's Investments To Transform India Into A Global Manufacturing Hub: Ashwini Vaishnaw

Liu had previously met with Prime Minister Narendra Modi to explore artificial intelligence (AI), semiconductors, and local electronics manufacturing opportunities in India

Union Minister of Information & Broadcasting and Electronics & IT, Ashwini Vaishnaw, said on Friday that Hon Hai Technology Group's (Foxconn) investment plans will position India as a global manufacturing hub. The Minister made this statement following a meeting with Young Liu, the CEO and Chairman of Foxconn, in the national capital.

In a social media post on X formerly Twitter), Vaishnaw wrote, “As we strive to make Bharat a global manufacturing hub, thanks to Foxconn’s Chairman Young Liu for his continued investment plans.”

Liu had previously met with Prime Minister Narendra Modi to explore artificial intelligence (AI), semiconductors, and local electronics manufacturing opportunities. During his Independence Day address, Prime Minister Modi highlighted India’s potential to achieve the vision of creating a ‘Made in India’ chip for every device. 

He reflected on how, in the past, the country relied heavily on importing mobile phones, but today, India has developed a robust manufacturing ecosystem and has become a significant manufacturing hub.

PM Modi stressed the importance of semiconductors, modern technologies, and AI, stating that these areas are crucial to India’s future. He mentioned that the country has begun working on the Indian Semiconductor Mission to advance these technologies.

Foxconn, a major Apple supplier and the leading exporter of iPhones from India—accounting for approximately 65 per cent of the total iPhone exports from its Indian factories—is heavily investing in local manufacturing. The Taiwanese technology giant, which produces around 70 per cent of iPhones worldwide, plans to invest $1.54 billion to support its operational needs in India. 

Additionally, Foxconn will invest Rs 3,300 crore in its manufacturing facility in Telangana, increasing its total investment in the state to over Rs 4,550 crore.

Liu, who was awarded the Padma Bhushan in January this year, expressed his profound honour at receiving the prestigious award from the Indian government.

Also Read: Foxconn Employment Row: Tamil Nadu Plant's Hiring Practices Questioned By Trade Unions

View More
Advertisement
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headlines

30 Killed, 60 Injured In Maha Kumbh Stampede, 25 Victims Identified: UP Top Cop
30 Killed, 60 Injured In Maha Kumbh Stampede, 25 Victims Identified: UP Top Cop
'Pretended To Drink': Kejriwal Retorts After Saini Takes Sip Of Yamuna Water Amid 'Poison' Row
'Pretended To Drink': Kejriwal Retorts After Saini Takes Sip Of Yamuna Water Amid 'Poison' Row
'Kejriwal Vs Who?' A Decade On, BJP And Congress Yet To Find An Answer To This Question In Delhi Elections
'Kejriwal Vs Who?' A Decade On, BJP And Congress Yet To Find An Answer In Delhi Elections
Judicial Panel To Probe Maha Kumbh Stampede, Rs 25 Lakh To Victims' Families, CM Yogi Announces — Updates
Judicial Panel To Probe Maha Kumbh Stampede, Rs 25 Lakh To Victims' Families: CM Yogi
Advertisement
ABP Premium

Videos

Mahakumbh Stampede Update: Shocking Details Emerge on How the Devastating Stampede Occurred, Administration Finally Breaks Silence with Official Statement | ABP NewsMahakumbh Stampede Update: Akhadas Make Major Decision In Wake Of Tragedy, Amrit Snan Postponed To Ensure Safety | ABP NewsMahakumbh Stampede Update: Shocking Details Emerge Behind Major Tragedy At Mahakumbh | ABP NewsMahakumbh Stampede Update: Heartbreaking Scenes As Many Devotees Get Separated From Their Loved Ones After Stampede At Mahakumbh | ABP News

Photo Gallery

Embed widget