Gunjan Krishna, Commissioner for Industrial Development and Director of Industries and Commerce, Karnataka, and Kedarnath Mudda, Senior Advisor to Karnataka Chief Minister, were among those who met Liu, at the headquarters of Hon Hai Technology Group (Foxconn).
Basavaraj Bommai, Chief Minister of Karnataka, said, “Foxconn’s potential investment in Karnataka would 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 the best of luck”.
Top government officials are tight-lipped about the specifics of the talks or where the Taiwanese giant would probably invest.
It is speculated that the company may get into electronic items including smart wearables and semiconductor manufacturing. The company management, however, made no investment commitment to the Karnataka delegation.
ET reported last week that the government is keen that Foxconn takes on a leadership role in the joint venture with Vedanta to set up semiconductor chips and display units in the country. The two entities had previously zeroed in on Gujarat to set up the manufacturing units and had signed an MoU with the Gujarat government in September last year.
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With a strong and stable industrial policy, the aim is to make Karnataka a key electronics and manufacturing hub, said Murugesh Nirani, Minister for Large and Medium Industries, Karnataka. With Foxconn’s potential investment, the state is gearing up to be the top state in the country to attract many other global electronics companies, Nirani said. Gunjan Krishna, Commissioner for Industrial Development and Director, Department of Industries and Commerce, Karnataka, said, “We would like to extend our full support to Foxconn and are thrilled that they are considering Karnataka as a potential investment destination. Our investment-friendly policies and processes will further facilitate them to grow in the state.”
Foxconn’s spokesperson James Wu, and its Chief Investment Officer James Tu, among others, were also present at the meeting.
Foxconn is the world’s largest electronics manufacturer, with total revenue exceeding NT$ 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/ regions around the world. The primary product segments for the company include smart consumer electronics (smartphones, TVs, game consoles), cloud and networking products (servers, communication networks), computing products (computers, tablets), and components (connectors, mechanical parts, services).
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