Foxconn CEO Young Liu with Karnataka CM Siddaramaiah.
Bengaluru: The Rs 22,000-crore investment Taiwan’s Hon Hai Technology Group (Foxconn) is pitching in Bengaluru’s Doddaballapura, will build the company’s biggest unit outside China.
Meeting with Karnataka Chief Minister Siddaramaiah, the Deputy Chief Minister DK Shivkumar, Large and Medium Industries Minister MB Patil, and IT-BT Minister Priyank Kharge, in Bengaluru, on Friday, Foxconn CEO, Young Liu, said, “The unit in Karnataka will soon become the second-largest Foxconn plant after China's unit. It will create 40,000 direct jobs, especially for middle-level educated individuals, and our investment will not stop here; in the future, we plan to explore other sectors also."
He also added a rider, "If there is mutual trust, anything can be achieved."
Clearly pleased with the outcome of the meeting, the Chief Minister observed, “This initiative will create substantial employment opportunities, boosting both the local economy and empowering our workforce. We assure Foxconn of our complete support and commitment to ensure all the necessary assistance for the successful execution of Foxconn’s projects,”
The company, which is under investigation for its hiring practices in Tamil Nadu, assured that the employee comfort will be a priority. Liu added, the plant’s facilities would help establish a global standard industrial environment.
For his part the industries minister MB Patil, welcomed more investment into the state. “KIADB, KPTCL, the Fire Brigade, and Pollution Control Boards are working with dedication to ensure the smooth implementation of Foxconn’s project. We have already allocated 300 acres of land to the company," he pointed out.
Project Elephant as the iPhone assembling unit being set up in Bengaluru is called, is expected to create 40,000 jobs. Construction of the plant is already underway. But this project could be the start of a more diverse investment plan, with Foxconn looking beyond mobile phones to having electric vehicle components’ facilities. “The strategic partnership with the Government of Karnataka is key to advancing our projects, including the mobile phone assembly plant and the EV components facility,” said Liu.
To this Siddaramaiah pointed out, “Karnataka has established itself as a powerhouse in the Electronics System Design and Manufacturing (ESDM) sector, contributing significantly to India’s electronics manufacturing output and exports. Our state offers a competitive advantage with efficient logistics, reliable power supply, a skilled workforce, and a robust vendor base to support dynamic industries like Foxconn's.”
With a market capitalisation of NT$2.08 trillion, Foxconn operates 173 campuses and offices across 24 countries, owns over 60,000 patents worldwide, and is known for serving some of the largest companies in the world, including Apple, Amazon, Google, and Microsoft.