Foxconn, a major Taiwanese contract manufacturer, plans to treble its investment and workforce in India by the end of the current year. In a LinkedIn post on Sunday, V Lee, a representative of Foxconn in India, wished Prime Minister Narendra Modi a happy 73rd birthday.
Details on next year, PM Modi will receive a ‘greater birthday gift’ from Foxconn
In the upcoming year, Lee reaffirmed Foxconn’s commitment to tripling its workforce, raising foreign direct investment (FDI), and growing its total business operations in India.
Lee remarked, “Foxconn has expanded smoothly and quickly in India under your guidance. Next year, we plan to put even more effort into giving you a bigger birthday gift by increasing employment, FDI, and business size in India.
This news follows Foxconn’s significant investments in India, notably in the southern states, which have established the business as a key player in India’s quest to become a major hub for manufacturing.
With a focus on constructing a semiconductor manufacturing facility in Gujarat, Foxconn has recently been actively looking for investment options in India. A move like that might greatly improve India’s indigenous electronics manufacturing capacity.
The plans for Foxconn’s expansion fit in perfectly with India’s policy to support domestic manufacturing and position itself as a major player in the world electronics market.
The anticipated investments contribute considerably to the creation of jobs and technological improvement in India while also demonstrating Foxconn’s belief in the country’s growth potential.
