Topics argued between the Indian premier Narendra Modi and the chief of Foxconn, Young Liu, were elevating the use of AI and semiconductor production to boost the domestic electronics industry.
To discuss new investment opportunities in India’s technology sector, Prime Minister Narendra Modi had a sole meeting with Foxconn CEO Young Liu.
The talks were based on the themes of developing AI, producing semiconductors, and increasing local electronics content.
It was great to shake hands with Mr. Young Liu, the Chairman, Hon Hai Technology Group (Foxconn). I stressed on the aspects that India provides numerous opportunities in the futuristic domains. We also had good discussions on their investment proposals in India in areas such as Karnataka, Tamil Nadu, and Andhra Pradesh, as shown in the picture. twitter. twitter.com/5tT4xfF51u Narendra Modi (@narendramodi) August 14, 2024
In the tweet on X (previously Twitter) after the meeting, PM Modi wrote, “Pleasure to host Mr. Young Liu, Chairman, Hon Hai Technology Group (Foxconn). We discussed the great potential of India in futuristic sectors. Exploring investment opportunities together in segments like Karnataka, Tamil Nadu, and Andhra Pradesh.”
Apple component maker and a key electronics assembler, Foxconn, is planning to ramp up its presence in India as a significant iPhone maker.
The company, they reveal, has over 40000 employees at the iPhone manufacturing plant in Tamil Nadu and has committed massive capital expenditure in the expansion of facilities in other states for iPhone production.
Recently, Foxconn has committed Rs 1,600 crore to establish a new electronics component division in Tamil Nadu and is likely to generate employment for over 6,000 people.
It is all set to initial an extra outlay of $500 million into its production facility within Telangana, taking its total investment in the country up to Rs 4,550 crore.
