News Brief
Why Foxconn Is Bullish On India's Manufacturing Ambitions
Foxconn
During Foxconn's annual technology event, Hon Hai Tech Day (HHTD) 2023, held on 18 October in Taiwan, India's presence was notably prominent.
This signals India's growing importance as a key partner for the electronics giant as it expands its production diversification efforts.
The event saw a substantial increase in the representation of Foxconn employees from India, along with executives from various Indian companies and government officials.
V Lee, Foxconn's representative in India, shared event images on LinkedIn, emphasizing the ambitious strides towards India's technological growth, marking the onset of a new era, particularly in the realms of electric vehicles (EVs) and semiconductors.
In a significant departure, Foxconn extended invitations to state government officials, further solidifying its ties with the Indian ecosystem.
Foxconn's largest footprint in India is in Tamil Nadu, and the company has expressed interest in investing in Karnataka and Telangana.
Foxconn's chairman and CEO, Young Liu, revealed that India is poised to contribute to 20-30 per cent of Hon Hai's manufacturing operations over the next decade. He clarified that while China will also maintain a significant role, India's role will be increasingly vital.
Liu emphasized Foxconn's transformation from a manufacturing services company into a platform solutions provider, highlighting their adoption of generative AI and robotics across their global manufacturing facilities.
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