PNS|Hyderabad
Electronics Major Foxconn will set up an electronics manufacturing facility in Telangana with the potential to create around 100,000 jobs.
Chief Minister K. Chandrasekhar Rao and Foxconn Chairman Young Liu announced the setting up of the electronics manufacturing facility in Hyderabad.
The historic deal has the potential to generate employment for over a lakh people in 10 years.
The Hon Hai Technology Group (Foxconn) and the Government of Telangana signed an agreement at the Pragati Bhavan in Hyderabad regarding the manufacturing facilities.
“The BRS Government is on a mission to transform Telangana and has undertaken several marquee projects to make Bangaru Telangana a reality. Foxconn’s unit will help in generating large-scale employment and will help in attracting more industries,” KCR said.
He emphasized that Telangana considers Taiwan a natural partner and that the State is glad to be a part of Foxconn’s growth story.
The Minister for Industries, ITE&C and MA & UD, KT Rama Rao, expressed happiness as the proposed unit has the potential to provide employment to around a lakh people.
KCR and Liu discussed the importance of diversifying electronics manufacturing to ensure a resilient supply chain and the pivotal role to be played by State Governments.
The Chief Minister said that the government has been successful in implementing a new industrial policy and had attracted huge investments to Telangana.
KCR said that Foxconn’s huge investment and the creation of around a lakh jobs in Telangana are commendable. He said that steps will be taken to ensure that the jobs are available to Telangana youth.
KCR assured Foxconn Chairman Young Liu that the government will provide full support to Foxconn’s operations in Telangana.
The Foxconn Chairman said that his company has studied extensively the state of Telangana and praised the friendly industrial ecosystem in Telangana.
Liu expressed happiness over the progress achieved by Telangana in the industrial sector, especially in IT and related electronics sectors in just eight years.
The Chairman said that he is optimistic about the investments his company had made in Telangana.
As it was Foxconn Chairman Young Liu’s birthday, KCR presented a specially made greeting card to him and extended birthday greetings. After the meeting, KCR hosted a lunch for Young Liu and his delegation at the Pragati Bhavan.
Finance Minister T. Harish Rao, Education Minister Sabitha Indra Reddy, Chief Secretary Santhi Kumari, DGP Anjani Kumar, Ibrahimpatnam MLA M. Kishan Reddy, Special Chief Secretaries Ramkrishna Rao and Arvind Kumar, Principal Secretary ITE&C and Industries, Jayesh Ranjan, CM’s PS Narsing Rao, CM’s Secretary Smitha Sabharwal, Special Secretary, Investment Promotion, Vishnu Vardhan Reddy and the Director, Electronics & Semiconductors, Sujai Karampuri were also present at the meeting.
