Taiwanese electronics giant, Foxconn will establish a manufacturing facility in Telangana which will create employment generation potential for over 1,00,000 people. According to an official release, Foxconn which is the original equipment manufacturer for various electronics and mobile companies including Apple will create around 100000 jobs which will help in generating direct and indirect employment for the youths of Telangana.
The 'historic deal' has the potential to generate employment to over one lakh people over a period of 10 years, it noted. The CM said his “government is on a mission to transform Telangana for better and has undertaken several marquee projects to realise the vision of Bangaru Telangana. Foxconn’s unit will help in generating large scale employment to youth and will help attract more such industries to the state." Rao emphasized that Telangana considers Taiwan as a natural partner and that the state is glad to be a part of Foxconn’s growth story. He called Foxconn's huge investment and the opportunity to create more than one lakh jobs like never before in Telangana 'commendable.
“The state government is on a mission to transform Telangana for better and has undertaken several marquee projects to realise vision of 'Bangaru Telangana'. Foxconn’s unit will help in generating large scale employment to youth and will help in attracting more such industries to the State:," Said Telangana CM.
“We will ensure that as many jobs as possible out of the one lakh to be created are available to the local Telangana youth. Assure Chairman Young Liu that the State Govt. will provide all kinds of support to Foxconn for its operations in Telangana," CM rao said further.
' The Chief Minister further said steps will be taken to ensure that one lakh jobs are available to the state's youth and assured Young Liu that his government will provide necessary support to Foxconn for its operations in the state. The Foxconn Chairman lauded the friendly industrial development eco system created in Telangana and expressed happiness over the progress achieved by the state in the industrial sector, especially in IT and related electronics sectors, in just eight years. Rao hosted lunch for the Young Liu and his team. Later in the evening, Liu along with Telangana Minister KT Rama Rao inaugurated T Works a prototyping facility here. Speaking to reporters, Liu said his company is looking at sites and is currently evaluating the kind of products to be made in Telangana. The amount of investment depends on the products they plan to make.
The investment is one of Foxconn’s biggest single outlays to date in India and underscores how China’s at risk of losing its status as the world’s largest producer of consumer electronics. Apple and other US brands are leaning on their Chinese-based suppliers to explore alternative locations such as India and Vietnam. It’s a rethink of the global supply chain that’s accelerated during the pandemic and the war in Ukraine and could reshape the way global electronics are made.
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