Karnataka government engages in strategic meeting with Foxconn for potential investment

BENGALURU: The Karnataka government, under the leadership of Chief Minister Siddaramaiah, held a strategic meeting with the CEO and Chairman of Hon Hai Technology Group (Foxconn) Young Liu on Friday on strengthening Foxconn’s existing investment in Karnataka and exploring future opportunities to expand the company’s operations within the state.

The delegation from Karnataka included Deputy Chief Minister D K Shivakumar, Minister for Large and Medium Industries and Infrastructure Development M B Patil, Minister for Information Technology and Biotechnology Priyank Kharge, Principal Secretary to the Department of Commerce and Industries Dr Selvakumar S, Commissioner for Industrial Development and Director of the Department of Commerce and Industries Gunjan Krishna.

The meeting underscored Karnataka’s reputation as a premier destination for global technology investments and Foxconn’s ongoing and future projects that will play a vital role in advancing the state’s economic growth, job creation, and leadership in technological innovation.

Had a productive meeting with Mr. Young Liu, CEO and Chairperson of Hon Hai Technology Group (Foxconn), alongside Chief Minister Sh. @siddaramaiah , where we shared insights on the importance of innovation that drives growth and environmental responsibility, particularly with… pic.twitter.com/BxSz1ru5UW

— DK Shivakumar (@DKShivakumar) August 16, 2024

Foxconn is set to establish a major mobile phone assembly plant here in Karnataka as Project Elephant. The company has secured 300 acres of land in the ITIR Industrial Area, spanning Doddaballapur and Devanahalli taluks in Bengaluru Rural district.

With an investment of Rs 22,000 crore, this project is poised to create over 40,000 jobs. Construction for the project is already under way and the Department of Commerce and Industries, in coordination with other key departments, is also working to obtain all necessary approvals. Efforts are also in place to ensure the seamless supply of essential utilities, including power and water, to the site.

Addressing the meeting, CM Siddaramaiah said, “It is a great privilege to work together in deepening and strengthening the collaborative relationship between Foxconn and Karnataka, a partnership that holds immense potential for mutual growth and success. Karnataka has established itself as a powerhouse in the Electronics System Design and Manufacturing (ESDM) sector, contributing significantly to India’s electronics manufacturing output and exports. Our state offers a competitive advantage with efficient logistics, reliable power supply, a skilled workforce, and a robust vendor base to support dynamic industries like Foxconn’s”.

This initiative will create substantial employment opportunities, boosting both the local economy and empowering our workforce. We assure Foxconn of our complete support and commitment to ensure all the necessary assistance for the successful execution of Foxconn’s projects.”

Minister for Large and Medium Industries and Infrastructure Development, MB Patil said, “Karnataka has always been at the forefront of technological innovation, and our partnership with Foxconn strengthens this position. Foxconn’s Project Elephant is an investment for the future of Karnataka. This initiative is of critical importance, and we assure that comprehensive support is being provided by all key departments within the state.

“Foxconn has the full backing of KIADB, KSPCB, Fire Services, and KPTCL, all working together to ensure the smooth progress of Foxconn’s project. We are dedicated to facilitating seamless coordination between government bodies to swiftly address any requirements. We look forward to working closely with Foxconn to make Project Elephant a resounding success and a model for future initiatives in Karnataka”.

Foxconn CEO, Young Liu said, “We are excited about our growing presence in Karnataka, a state that offers a strong ecosystem for innovation, manufacturing, and technological growth. The strategic partnership with the Government of Karnataka is key to advancing our projects, including the mobile phone assembly plant and the EV components facility. We appreciate the state’s proactive approach in supporting infrastructure, approvals, and utilities, which will ensure the successful execution of our plans. We look forward to contributing to Karnataka’s economic development and creating thousands of new job opportunities for its people.” (ANI)