Foxconn announces investment project in K’taka, to create over 1 lakh jobs

BENGALURU: Hon Hai Technology Group, popularly known as Foxconn, has announced a major investment in Karnataka that will generate over one lakh jobs, in a major boost to India’s Atmanirbhar Bharat ambitions, according to an official statement on Friday.

A huge land parcel of 300 acres has been identified for this purpose near the Bengaluru International Airport in Doddaballapur and Devanahalli taluks. A Foxconn team, led by chief executive officer and chairman Young Liu, and comprising 16 senior leaders, was in Bengaluru on Friday. They were welcomed at the airport by Dr C N Ashwath Narayan, Minister for Higher Education, IT and Biotechnology, Science and Technology and Skill Development.

The visit began with a walkthrough of the world-class new Terminal-2, recently inaugurated by Prime Minister Narendra Modi, followed by a detailed presentation by senior executives from Bengaluru Airport International Limited (BIAL) on cargo infrastructure and facilities at the airport. The team then proceeded for a site visit.

Industries Minister Murugesh Nirani and Chief Secretary Vandita Sharma with the Foxconn delegation.

Chief Minister Basavaraj Bommai and Young Liu discussed about Foxconn’s investment plans and Bommai 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 CM said.

Foxconn is the world’s largest electronics manufacturer, with total revenue exceeding New Taiwan dollar 6 trillion in 2022. As of last year, it ranks 20th in the Fortune Global 500 companies.

The company has 173 campuses and offices in 24 countries or regions around the world. The primary product segments for the company include smart consumer electronics such as smartphones, TVs, game consoles, cloud and networking products which comprise servers, and communication network; computing products such as computers, tablets, and components and others such as connectors, mechanical parts, services, etc. (ANI)