Foxconn Plans To Generate 40,000 Jobs Adding To Elaborate Presence In Indian Market
Foxconn's investment in Bengaluru's Project Elephant and Project Cheetah enables a push in the local innovation and industrial sectors
Foxconn CEO Young Liu's recent visit to India highlights the company's growing presence and significant investments in the country, with a special emphasis on Karnataka. Liu met with Prime Minister Narendra Modi, opposition leader Rahul Gandhi and several key state leaders to discuss Foxconn's expanding operations in India, particularly in semiconductor and AI-driven manufacturing.
Foxconn is making significant progress in India under the direction of Young Liu. During his tour, Liu met with Prime Minister Narendra Modi, opposition leader Rahul Gandhi and state chief ministers including as Revanth Reddy of Telangana, MK Stalin of Tamil Nadu and Siddaramaiah of Karnataka. The conversations revolved around Foxconn's investment plans, which include both new factories and expansions.
The company already has two plants in Tamil Nadu and Andhra Pradesh, and construction is underway on two other facilities in Bengaluru and Hyderabad. Notably, the Bengaluru factory, which was supposed to open in April, has been delayed, but it is still expected to be a huge undertaking known as Project Elephant. The complex will occupy 300 acres in Devanahalli's ITIR Industrial Area, with a planned investment of Rs 22,000 crore and the generation of 40,000 jobs. It is projected to create 20 million iPhones every year.
Along with the iPhone manufacturing plant, Foxconn is constructing another factory in Bengaluru called Project Cheetah, which would focus on producing components for electric vehicles. Karnataka Chief Minister Siddaramaiah emphasised the state's appeal as a manufacturing base, highlighting its robust logistics, consistent electricity supply and qualified workforce.
This year has been crucial for Foxconn in India. Liu was awarded the Padma Bhushan on Republic Day attributing to the conglomerate’s extensive operations in India. The company's involvement in Karnataka is consistent with broader national ambitions of increasing local manufacturing and establishing India as a credible alternative to China in global supply chains.
Despite problems with prior semiconductor projects in Gujarat and Mysuru, Karnataka's expanding infrastructure and investment-friendly legislation offer a favourable environment for Foxconn. Bengaluru, also known as the ‘India's Silicon Valley,’ is utilising its profile as a technology and industrial hub to lure large businesses such as Foxconn
