In a boost to India's Atmanirbhar Bharat ambitions and Karnataka's success in drawing investments in the electronics manufacturing and assembly segment, Hon Hai Technology Group (Foxconn) has announced a major investment in the state, an official statement said on Friday.
Land of 300 acres for the project has been identified near the Bengaluru International Airport, in Doddaballapura and Devanahalli taluks.
IT hub to gain from China's loss
A Foxconn team, led by CEO and Chairman Young Liu, and comprising 16 senior leaders reached Bengaluru on Friday and were welcomed at the airport by IT and BT, Science and Technology, and Skill Development Minister C.N. Ashwath Narayan.
They began with a walkthrough of the world-class new terminal 2, recently inaugurated by the Prime Minister, followed by a detailed presentation by senior executives from Bengaluru Airport International Ltd (BIAL) on cargo infrastructure and facilities at the airport. The team then proceeded to a site view at the proposed area.
A lunch meeting with Medium and Large Industries Minister Murugesh R. Nirani was next and they also met Chief Secretary Vandita Sharma at the Vidhana Soudha.
Major job creation potential
The visit culminated with a dinner hosted by Chief Minister Basavaraj Bommai where he discussed Foxconn's investment plans with Liu and assured full support for the project. The electronics manufacturing project is expected to generate more than 1,00,000 employment opportunities in the next 10 years within the state.
The world's largest electronics manufacturer, with total revenue exceeding NT$6 trillion in 2022, and, as of last year, ranking 20th in the Fortune Global 500, Foxconn has 173 campuses and offices in 24 countries/regions.
The primary product segments for the company include smart consumer electronics (smartphones, TVs, game consoles, etc.), cloud and networking Products (servers, communication networks, etc.), computing Products (computers, tablets, etc.), and Components and Others (connectors, mechanical parts, services, etc.), the official release stated.
