Foxconn is making significant progress in India, particularly in terms of hiring and workforce development. Since its inception in India in 2005, the company has grown in terms of both revenue and investment, as well as workforce strength.
Young Liu, CEO and Chairman of Hon Hai Technology Group (Foxconn), announced a strategic shift beyond product assembly during a recent quarterly earnings conference call. While Foxconn is the primary supplier to smartphone manufacturers such as Apple, the company is now concentrating on producing critical parts in India’s competitive market.
Foxconn currently operates in the states of Andhra Pradesh and Tamil Nadu but plans to expand into other states such as Karnataka and Telangana. The company strives to establish industrial hubs that cultivate a favourable business environment by improving infrastructure, regulations, and legal structures in close collaboration with both national and state-level governmental entities.
The recently established Telangana centre is expected to serve as a critical focal point for Foxconn Interconnect Technology’s activities, playing an important role in the company’s efforts to improve its manufacturing capabilities. The company’s board of directors has also approved an additional $400 million in investment in the state of Telangana. This is done in order to increase the total investment of $550 million.
Foxconn’s presence in India goes beyond product assembly, with a focus on hiring, workforce development, and strategic investments in key regions.