New Delhi, Jan 26: Young Liu, CEO and Chairman of Taiwanese technology giant Foxconn, expressed deep gratitude after being conferred the Padma Bhushan by the Indian government. The prestigious award comes at a time when Foxconn, responsible for manufacturing approximately 70% of global iPhones, is actively investing in local manufacturing initiatives in India.
In a statement, Liu conveyed his appreciation, stating, “My heartfelt thanks to the Prime Minister, President, and the wonderful people of India for this tremendous distinction. I firmly believe this is an affirmation of a collaboration that benefits India’s long-term development and supports the growth of local economies.”
Liu emphasized his commitment to inspiring his team and contributing to the manufacturing landscape in India. “Let’s do our part for manufacturing in India and for the betterment of society,” he added.
Last year, Liu had lauded India’s reforms and policies, recognizing the significant opportunities they presented for the development of the entire electronics manufacturing ecosystem. He had predicted that “India will be a very important country in terms of manufacturing in the future.”
In November, Foxconn announced a substantial investment of $1.54 billion in India, reinforcing its commitment to local manufacturing. The company, which already operates an iPhone factory in Tamil Nadu employing 40,000 people, also signed agreements for additional investments in electronics components units in Tamil Nadu and Telangana, generating thousands of jobs.
Liu’s recent visit to India for the ‘SemiconIndia 2023’ event, inaugurated by Prime Minister Narendra Modi, showcased his optimism about India’s direction. “I can feel the determination of the Indian government. I am very optimistic about where it’s headed,” remarked Foxconn Chairman Liu during the event.
