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Maharashtra, Taiwan-based Foxconn discuss investment in semiconductors, consumer electronics

New Delhi: A Maharashtra government delegation on Friday met Taiwan-based industry major Foxconn to discuss advanced plans for investment in the semiconductor and consumer-electronics segments.

Industries Minister Subhash Desai, Additional Chief Secretary (Industries) Baldev Singh and CEO, MIDC Dr P Anbalagan talked about a partnership with Foxconn Chairman Young Liu that would build “the world’s electronics and supply-chain backbone”, a government release said.

It added: “Foxconn, the largest and most globally trusted electronics manufacturer in the world and 22nd in the list of Fortune 500 companies, is expanding into semiconductor manufacturing and is exploring the South Asian market for its next venture to build for the world.”

The state delegation held group discussions with specialists from Foxconn in the sectors of ICT, electric vehicles, mobility, and battery manufacturing. Minister Subhash Desai said, “We will provide full institutional support to Foxconn from the state government and ensure the development of a hi-tech ecosystem that is also socially conscious and brings tremendous skilled employment to the country.”

Desai added: “We have sharpened our focus on realising strategic investments and have been able to generate more than 4 lakh jobs in the last two years and we hope to partner with Foxconn to ensure sustainable job creation of high-value talent in the state,” added Desai.

The release said Maharashtra — in the “tough” last two years — had managed “to secure investments worth more than Rs 6 lakh crore and allocated world-class industrial land, infrastructure, and facilities to over 80 per cent of investors in record time”.

It said Young Liu has expressed enthusiasm “to find synergies of scale with the state and jointly develop world-class talent and products geared towards the future”.

“Pune, Maharashtra has emerged as the most natural choice for Foxconn with one of the best talent pool, industrial ecosystem, consumer base and residential spaces in Asia. Foxconn will be joining a league of global OEMs and world class suppliers and will partner with the state to build the world’s electronics and supply chain backbone”, the press release noted.

“With pioneering policies that are both lucrative to the investor and strengthen the state’s sectoral value addition, manufacturing and skilling ecosystems, Foxconn’s vision for the future closely aligns with the state’s goal of attracting global partners with a long-term vision,” the state government said.

Foxconn, which is trying to expand into semiconductor manufacturing and is exploring the South Asian market for its next venture, has also had several meetings with Prime Minister Narendra Modi and Ashwini Vaishnaw, Minister for Electronics and Information Technology.


Source: The Print

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