On Monday, Taiwanese electronics giant Foxconn Interconnect Technology laid the foundation for a new manufacturing facility in Hyderabad as part of its $500 million investment plans for Telangana State.
The manufacturing facility will be set up in Kongara Kalan, near Hyderabad. The Taiwanese electronics major, Foxconn, is the world’s biggest and most lucrative manufacturer. It has been making products for Apple and other companies like Xiaomi and Sony from its existing facilities in India.
The Telangana government has embarked on 200 acres of land for Foxconn to set up its manufacturing unit in Kongara Kalan, which is located 35 kilometers from Hyderabad.
The Taiwanese firm already has its operations in Tamil Nadu and Andhra Pradesh. The state government stated that the proposed Electronics Manufacturing Facility in Hyderabad is part of the Taiwanese firm expansion strategy.
Rama Rao also shared that, with an investment of $500 million for the Foxconn plant in Hyderabad, in its first phase itself, it will generate up to 25,000 direct jobs.
Hyderabad’s new manufacturing facility will serve as the hub of Foxconn Interconnect Technology’s operations in Telangana to expand its production.
Apart from Foxconn, Taiwanese’s other major firm, ‘ Pegatron,” has also entered the market. These global manufacturers are betting on the state government’s manufacturing push under the ‘Make in India program’ .
