A high-level delegation from the government of Karnataka on Wednesday met Hon Hai Technology Group (Foxconn) chairman Young Liu at the company headquarters in Taiwan, and held discussions about investment plans in the Indian State.
The delegation consisted of Gunjan Krishna, Commissioner for Industrial Development and Director of Industries and Commerce, and Kedarnath Mudda, Senior Advisor to Basavaraj Bommai, Chief Minister of Karnataka.
Foxconn's spokesman James Wu, Chief Investment Officer James Tu, and some more executives were also present on the occasion, an official release said.
"Foxconn's potential investment in Karnataka will be a testament to the State's industrial landscape. We are working towards building the best electronics and manufacturing ecosystems, which will attract further investments in the sector. We welcome Foxconn to Karnataka and wish them best of luck," Bommai said.
Foxconn is said to be the world's largest electronics manufacturer, with a total revenue exceeding NT$ (New Taiwan dollar) 6 trillion in 2022. As of last year, it ranks 20th in the Fortune Global 500.
Foxconn has 173 campuses and offices in 24 countries or regions around the world.
The primary product segments for the company include smart consumer electronics (smartphones, TVs, game consoles, among others), cloud and networking products (servers, communication networks), computing products (computers, tablets) and components and others (connectors, mechanical parts, services).
"With a strong and stable industrial policy, our aim is to make Karnataka a key electronics and manufacturing hub. With Foxconn's potential investment, the State is gearing up to be the topmost in the country to attract many other global electronics companies," said Large and Medium Industries Minister Murugesh Nirani.
Gunjan Krishna said the government would like to extend full support to Foxconn and is thrilled to see Karnataka being considered as a potential investment destination. "Our investment-friendly policies and processes will further facilitate them to grow in the State," she said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app