Foxconn Chairman Young Liu has expressed a keen interest in investing in Hyderabad, citing the city's expanding capacity in both the industrial and service sectors.
Foxconn Chairman Young Liu Meets Revanth Reddy
According to Foxconn, during a meeting with Telangana Chief Minister A Revanth Reddy in New Delhi, Liu praised the CM's approach, particularly his plans for the development of the Fourth City project.
Liu said, "Hyderabad city has the potential to expand in all sectors, including industrial and service sectors." The Foxconn delegation, led by Chairman Young Liu, was briefed by Telangana Chief Minister A Revanth Reddy on Hyderabad's rich historical legacy, industrial potential, and favourable climatic conditions. The CM highlighted the city's steady industrial growth over the years, unaffected by political transitions.
Phased development of three cities
He also elaborated on the phased development of three cities in Hyderabad, which began 430 years ago and presented the Fourth City project, designed for multifaceted expansion in fields such as education, healthcare, sports, electronics, electrical industries, and skill development.
One of the key aspects of this initiative is the establishment of the Young India Skill Development University on the city's outskirts.
According to Revanth Reddy, leading industrialists are actively contributing to the university's curriculum design to provide the youth with the skills required by modern industries.
He said, "Eminent industrialists are involved in the design of the syllabus to provide the necessary skills and human resources that equip the youth with modern industry skills." Anand Mahindra, appointed as chairman of the university, and Srinivasa Raju, serving as vice-chairman, are involved in this effort.
Hyderabad's strategic advantages
The CM also emphasized Hyderabad's strategic advantages, including the International Airport, Outer Ring Road (ORR), and Regional Ring Road (RRR), assuring Foxconn of full support, including permits and incentives, for establishing their factories in the Fourth City. He extended a formal invitation for Foxconn to invest in the ambitious project.
State IT and Industries Minister D Sridhar Babu also briefed Liu on the state's pro-industrial policies, financial incentives, and international collaborations aimed at accelerating industrial growth. He recounted the steps taken by the government under Revanth Reddy's leadership and the agreements secured during recent visits to the USA and South Korea.
Interest in exploring investment opportunities
Liu, impressed by the CM's visionary approach, expressed Foxconn's strong interest in exploring investment opportunities in Hyderabad. He revealed plans for an initial visit by a team, led by Chief Campus Operations Officer Kathy Yang and India representative V Lee, followed by his own visit shortly after.
Liu praised the vision behind the Fourth City and the pro-industrial policies, stating he looks forward to personally visiting Hyderabad soon.
The meeting was attended by high-ranking officials from both the Telangana government and Foxconn, marking the start of what could be a major partnership for Hyderabad's industrial future. Among the attendees were Jayesh Ranjan, Special Secretary Dr Vishnu Vardhan Reddy, Ajith Reddy, Dr SK Sharma, Bob Chen, JH Wu, Hsu Shou-kuo, Simon Song, and V Lee.
