Foxconn Delegation Meets Telangana CM, Assures to Start Hyderabad Ops by May '24
HYDERABAD: A delegation of the Foxconn Group, a Taiwanese company that manufactures Apple products, on Tuesday met Chief Minister A. Revanth Reddy at the Secretariat to discuss the company’s expansion plans for Telangana.
The delegation, led by Foxconn's Hon Hai Precision Industry Company Limited’s representative Wee Lee, said that its manufacturing plant at Kongarakalan on the city outskirts will become operational by May 2024 and start production of Apple AirPods.
IT minister D. Sridhar Babu, Chief Secretary A. Santhi Kumari and industries secretary Jayesh Ranjan, among other senior officials, were present at the meeting.
In the meeting, Revanth Reddy said that the state government was committed to industrial development and would expedite the development of the electronics sector.
Reddy said that the newly-formed Congress government “has the responsibility to safeguard the aspirations of the people”, promising to extend full support and cooperation to industrialists.
Reddy assured to provide the required infrastructure and expedite the grant of permissions. He assured that the state government would extend all necessary support to upcoming projects that will be undertaken by the Foxconn Group. He told the delegation that all necessary steps will be taken to promote Telangana as the leader in industrial development in the country.
The Foxconn Group entered an agreement with the Telangana government in March 2023 to set up a manufacturing facility in Kongarakalan. Foxconn's major customers include Google, Xiaomi, Amazon, Hewlett Packard, HUAWEI, Alibaba Group, CISCO, Dell, Facebook, Nintendo, Sony, Microsoft, SEGA and Nokia, among others.
Foxconn is operating in 24 countries, including China, Vietnam, Thailand, Malaysia, America, European nations and India. The company is operating in Sri City (Andhra Pradesh), Sriperumbudur (Tamil Nadu), Kongarakalan (Telangana) and Bengaluru outskirts (Karnataka).
Foxconn signed an MoU with the Telangana government, assuring to create one lakh jobs by setting up an electronics manufacturing unit. In the first phase, the company is expected to generate 25,000 jobs in the next two years.
Discussing expansion plans, Foxconn evinced interest in setting up a display fab manufacturing facility, semiconductor OSAT facility (Outsourced Semiconductor Assembly and Test Services), semiconductor fab facility, electric vehicle manufacturing facility, notebook manufacturing facility and components manufacturing facility.
While the Centre offered incentives of 50 per cent, the state government offered 30 per cent incentives from its side to facilitate Foxconn to set up operations in the state.
