Foxconn Interconnect Technology (FIT) has started building a new electronics manufacturing facility in Telangana, as part of its $500m investment in the state. The company’s new plant will create 25,000 jobs. The move is part of Telangana’s ambition to become the Shenzhen of India, which is also aiming to create a 1.5 million workforce and a $150bn economy solely focused on electronics manufacturing in the next decade. FIT’s new plant marks a watershed moment in the history of Telangana, according to Industries Minister K T Rama Rao, who added that the state aims to achieve what China did in 30 years, in just 20 years.
Foxconn and Telangana will also collaborate to set up a training centre to provide young people with the skills necessary for work in hi-tech manufacturing. IT Chairman and CEO Sidney Lu said the new facility would enable FIT to serve its customers better, expand its capabilities and create new opportunities for its team members.
