March 26, 2023

Seeing improvements in the industrial environment Chairman Young Liu said that the company would expand in India, reported Economic Times. Liu said that enhanced government efficiency will also play a crucial role, highlighting the growing importance of in the global market as the world’s largest contract manufacturer amid rising tension with China.

In an investor call last week, Liu said that India will play an important role in the future. “So, overall, I think our development in India, I see it actively heading in a positive direction–that is, it is going to get better and better”, Liu said.

“Overall, on India, our group’s development in India will be actively expanding,” Liu further added.

Foxconn’s commitment to India can be seen as a strong push by to improve ties with other nations as China steps up its military belligerence near the island nation.

In July this year, Maharashtra also won a Rs 2.06 trillion investment by Group- partnership in the sunrise semiconductors chips and display fabrications sector in Pune.

Earlier this year, Group — the mining giant based in Mumbai — had partnered with the Hon Hai Precision Industry (Foxconn) with plans to invest $15 billion in phases over the next five-ten years to manufacture chips and displays in India.

This mega-project will create around 200,000 direct and indirect jobs, total revenues of worth Rs 1.25 trillion comprising Rs 37,500 crore State and the rest of Rs 88,079 as Inter-State .

has three sites in Tamil Nadu and Andhra Pradesh where it makes phones for Apple, Xiaomi and other electronic brands under various other .

According to the ET report, Sana Hashmi, a postdoctoral fellow at the Taiwan-Asia Exchange Foundation says that the current situation in — the visit by Nancy Pelosi, speaker of the US House of Representatives and military drills by China — must be seen as a wake-up call by other and they too may consider building ties with other nations.

“The current situation is a wake-up call for several Taiwanese who were till now unwilling to move out of China,” said Sana Hashmi. I think Foxconn, due to it being more global in nature, has been a little more forthcoming than other companies (relatively smaller).”

“The next stop should be Southeast Asia and India, but there are still structural problems,” she said. “While the tensions motivate Taiwanese companies to look towards India, there’s a lot more that needs to be done”, ET quoted Sana.

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