Hyderabad: Chief Minister A. Revanth Reddy met with Foxconn chairman Young Liu in Delhi on Friday and invited his company to invest in the proposed Fourth City, which is being developed on the city outskirts. Foxconn is a Taiwanese company that manufactures several Apple products.
The Foxconn Group had earlier entered into an agreement with the Telangana government to set up a manufacturing facility in Kongarakalan on the city outskirts. Foxconn's major customers include Google, Xiaomi, Amazon, Hewlett Packard, Huawei, Alibaba Group, Cisco, Dell, Facebook, Nintendo, Sony, Microsoft, Sega and Nokia, among others.
Responding to Revanth Reddy’s invitation to further expand operations in Telangana. the Foxconn chairman said that Hyderabad had the potential to expand in all sectors, including industrial and service sectors and announced plans to visit Hyderabad with his team soon.
Young said Foxconn was eager to explore investment opportunities in Hyderabad and a team led by chief campus operations officer Kathy Yang and India representative V. Lee will visit Hyderabad, followed by Young Liu himself.
Young Liu said that he was very impressed by Revanth Reddy's vision and pro-industrial policies in the design of the Fourth City.
Earlier, the Foxconn chairman met Leader of Opposition in the Lok Sabha Rahul Gandhi and discussed the future of technological innovation in India and the world.
The Foxconn delegation, led by Liu, was briefed by Revanth Reddy on Hyderabad's history, industrial prospects and favourable climatic conditions. The Chief Minister emphasised Hyderabad's consistent industrial progress over the years, which remains unhampered by changes in governments.
The Chief Minister elucidated about the phase-wise development of three cities in Hyderabad, whose foundation stone was laid under 430 years. He assured Foxconn of full support, including necessary permits and incentives, for setting up their factories in the Fourth City.
State IT and industries minister D. Sridhar Babu also briefed Liu on the government's pro-industrial policies, incentives, and international collaborations aimed at boosting industrial development.
