Foxconn, the Taiwanese electronics conglomerate, will establish a manufacturing facility in Telangana, potentially employing over 100,000 people. According to an official release, Foxconn, the original equipment manufacturer for various electronics and mobile companies including Apple, will create approximately 100000 jobs, resulting in direct and indirect employment for Telangana youths.
The 'historic deal' has the potential to employ over one lakh people over a ten-year period, according to the report. The CM said his "government is on a mission to transform Telangana for better and has undertaken several marquee projects to realise the vision of Bangaru Telangana. Foxconn's unit will help create large-scale jobs for youth and will help attract more such industries to the state." Rao emphasised that Telangana sees Taiwan as a natural partner and is excited to be a part of Foxconn's growth story. He praised Foxconn's massive investment and the opportunity to create more than one lakh jobs in Telangana like never before.
“The state government is on a mission to transform Telangana for better and has undertaken several marquee projects to realise vision of 'Bangaru Telangana'. Foxconn’s unit will help in generating large scale employment to youth and will help in attracting more such industries to the State:," Said Telangana CM.
“We will ensure that as many jobs as possible out of the one lakh to be created are available to the local Telangana youth. Assure Chairman Young Liu that the State Govt. will provide all kinds of support to Foxconn for its operations in Telangana," CM rao said further.
The Chief Minister also stated that steps would be taken to ensure that one lakh jobs are available to the state's youth, and he assured Young Liu that his government would provide Foxconn with the necessary support for its operations in the state. The Foxconn Chairman praised Telangana's friendly industrial development eco system and expressed satisfaction with the state's progress in the industrial sector, particularly in IT and related electronics, in just eight years.
Rao hosted Young Liu and his team for lunch. Later that evening, Liu and Telangana Minister KT Rama Rao jointly inaugurated T Works, a prototyping facility in Hyderabad. Liu told reporters that his company is looking at sites and is currently evaluating the types of products that will be manufactured in Telangana. The amount invested is determined by the products they intend to manufacture.