- Thursday, July 04, 2024
V Lee, Foxconn’s representative in India, said on LinkedIn that the company was “aiming for another doubling of employment, FDI and business size in India” by this time in 2024.
By: Shubham Ghosh
TAIWANESE electronics giant Foxconn has a goal to double its workforce and investment in India by the next year, Reuters reported citing one of its executives on Sunday (17).
The Apple supplier, which is also the world’s biggest contract manufacturer of electronics, has expanded its presence in India rapidly by making investments in manufacturing facilities in the southern parts as the firm eyes to distance itself from China, which is currently at the centre of a tension over economy and geopolitics.
In a post on LinkedIn to mark the 73rd birth anniversary of Indian prime minister Narendra Modi on Sunday, V Lee, Foxconn’s representative in India said the company was “aiming for another doubling of employment, FDI (foreign direct investment), and business size in India” by this time in 2024.
He, however, did not share more details.
Foxconn currently has an iPhone factory in the southern Indian state of Tamil Nadu, which employs 40,000 people.
In August, Karnataka, another southern Indian state, said Foxconn will invest $600 million for two projects there to make casing components for iPhones and chip-making equipment.
Foxconn chairman Liu Young-way said in an earnings briefing in August that he sees a lot of potential in India, adding, “several billion dollars in investment is only a beginning”.
