Hyderabad, June 23 (IANS) Telangana Industries Minister Ok.T. Rama Rao on Thursday invited Foxconn to put money into the state.

The minister met visiting Foxconn Chairman Younger Liu in New Delhi, they usually mentioned Foxconn’s plans of increasing its footprint in India.

KTR, because the minister is popularly recognized, additionally took the chance to pitch Telangana to officers from Foxconn Company current throughout the assembly for potential funding alternatives.

Taiwan-based Hon Hai Expertise Group (Foxconn) is among the main electronics manufacturing companies (EMS) supplier globally and is among the largest suppliers for a lot of high tier worldwide prospects.

Foxconn has manufacturing items in Tamil Nadu (NS:) and Andhra Pradesh. In 2021, Hon Hai’s annual income reached $206 billion worldwide.

KTR briefed Liu on the initiatives undertaken by the state authorities in direction of creating an enabling surroundings and infrastructure for fostering electronics manufacturing in Telangana, and the Foxconn chief was happy to notice the progress made by the state in final eight years.

Discussing the corporate’s future plans, Liu stated: “India is a gorgeous manufacturing vacation spot, and we want to see how we are able to increase our manufacturing footprint. Our India expertise has been thrilling, and we sit up for discover the alternatives that Telangana as a state presents.”

KTR stated: “Foxconn is among the greatest employers globally within the area of electronics manufacturing. We’re enthusiastic about their resolution to enterprise into EV manufacturing too. I guarantee the corporate of one of the best help potential from Telangana and invite the crew to discover Telangana.”

Telangana has emerged as a most popular funding vacation spot for investments in electronics sector and boasts of a vibrant R&D and innovation ecosystem. The state is supplied with sturdy industrial infrastructure and is effectively positioned to satisfy the necessities of worldwide majors, he added.

–IANS

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