The Taiwanese contract manufacturing giant, Foxconn, has set ambitious goals for its investment and employment expansion in India.
This announcement was made by Foxconn’s India representative, V Lee, as he extended his birthday wishes to Prime Minister Narendra Modi in a LinkedIn post on Sunday.
Lee expressed Foxconn’s strong commitment to doubling its workforce, increasing foreign direct investment (FDI), and expanding its overall business operations in India within the next year.
In Lee’s words, “Under your leadership, Foxconn has experienced smooth and rapid growth in India. We will redouble our efforts to offer you an even greater birthday gift next year, with the aim of doubling our employment, FDI, and business footprint in India.”
This announcement follows Foxconn’s significant investments in India, particularly in the southern states, solidifying the company’s pivotal role in India’s quest to become a global manufacturing hub.
In recent developments, Foxconn has been actively exploring investment opportunities in India, with a strong focus on establishing a semiconductor manufacturing facility in Gujarat. Such a move holds the potential to substantially enhance India’s domestic electronics manufacturing capabilities.
Foxconn’s expansion plans closely align with India’s strategy to bolster domestic manufacturing and establish itself as a prominent player in the global electronics industry.
These proposed investments not only reflect Foxconn’s confidence in India’s growth potential but also make a substantial contribution to job creation and technological advancements within the country.