Foxconn major player in India’s mfg hub mission: Vaishnaw

New Delhi: The investment plans by Hon Hai Technology Group (known as Foxconn) will help India become a global manufacturing hub, Union Minister for Railways, Electronics and IT and I&B, Ashwini Vaishnaw, said on Friday. The Minister met Young Liu, Chief Executive Officer and Chairman of Foxconn, in the national capital.

In a post on social media platform X, Minister Vaishnaw said: “As we strive to make Bharat a global manufacturing hub, thanks to Foxconn’s Chairman Young Liu for his continued investment plans.” Liu earlier met Prime Minister Narendra Modi and discussed several opportunities in “futuristic sectors” like artificial intelligence (AI), semiconductors, local electronics manufacturing and more. The Taiwanese contract manufacturer plans to invest $1.54 billion in the country to help it fulfill ‘operational needs.’ The company will invest an additional Rs3,300 crore in its manufacturing facility in Telangana.