Apple Supplier Foxconn In Talks With K’taka Govt For Potential Investment

Foxconn Chairman Young Liu on Wednesday met a high-level delegation from the Government of Karnataka to discuss potential investment in the state. 

Karnataka’s delegation was led by Gunjan Krishna, Commissioner for Industrial Development and Director of Industries and Commerce, and Kedarnath Mudda, Senior Advisor to Chief Minister of Karnataka. They met Liu earlier today.

Foxconn’s James Wu, (Spokesman) and James Tu (Chief Investment Officer) and some more executives were also present on the occasion.

Karnataka CM Basavaraj S Bommai said, “Foxconn’s potential investment in Karnataka would be a testament to the state’s industrial landscape. We are working towards building the best electronics and manufacturing ecosystems, which will attract further investments in the sector. We welcome Foxconn to Karnataka and wish them the best of luck.”

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

The company has 173 campuses and offices in 24 countries/ regions around the world. 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.)

Murugesh Nirani, Minister for Large and Medium Industries, Government of Karnataka said, “With a strong and stable industrial policy, our aim is to make Karnataka a key electronics and manufacturing hub. With Foxconn’s potential investment, the state is gearing up to be the top state in the country to attract many other global electronics companies.”