Hyderabad,March 2
A delegation led by Young Liu, the chairman of Hon Hai Foxconn, a well-known electronics production company, met with Chief Minister K. Chandrasekhar Rao at Pragati Bhavan on Thursday. During the meeting, an agreement was signed between Foxconn and the state government of Telangana for the company to invest in the state and set up an electronics products industry. The agreement will pave the way for the creation of one lakh jobs, providing direct and indirect employment opportunities for local youth on a large scale.
This investment in the electronics sector is one of the largest in the country and a rare feat for a single company to employ so many people directly. To mark the occasion, CM KCR presented a specially made greeting card to Young Liu on his birthday, and later entertained the Foxconn delegation with lunch at Pragati Bhavan.
The signing ceremony was attended by State IT and Municipal Affairs Minister KT Rama Rao, Health and Finance Minister Harish Rao, Education Minister Sabita Indra Reddy, MLA Manchireddy Kishan Reddy, Government Chief Secretary Shanti Kumari, DGP Anjani Kumar, CM Principal Secretary Narsing Rao, CM’s Secretary Smita Sabharwal, Special Chief Secretaries Ramakrishna Rao and Arvind Kumar, Industries Department Additional Secretary Vishnuvardhan Reddy, and Director Electronics Sujay Karampuri.
The investment by Hon Hai Foxconn is expected to have a significant impact on Telangana’s economy, creating employment opportunities for local youth and boosting the state’s electronics industry.
CM KCR expressed his gratitude to Hon Hai Foxconn, a company that has brought about significant changes in the electronics production sector globally, for selecting Telangana as its destination for production activities. During the discussions, the future expansion plans of Foxconn were thoroughly examined, and CM KCR assured Young Lew that the government will provide all kinds of support. the state government has been successful in attracting huge investments by creating a new industrial policy. He emphasized that the investment made by Foxconn in the state provides an opportunity to create more than one lakh jobs, which has never been possible before. Steps will be taken to ensure that local youth get jobs.
Minister KTR expressed his happiness and said that with the proposed unit of Foxconn, lakhs of people will get job and employment opportunities in the next 10 years.
Lew praised the favorable industrial environment in Telangana and expressed happiness over the development achieved by the state in the fields of industrial, IT, and related electronics in the last 8years. He stated that they are optimistic about their company’s investments in Telangana state.
