Foxconn Commits to Greater Investment in India After $10 Billion Infusion

Foxconn, the iPhone manufacturer, has invested USD 10 billion in India so far and plans to increase this investment next year, according to Chairman Young Liu. Liu, who received the Padma Bhushan award, mentioned that during his visit, he met various chief ministers and observed India's growth trajectory.

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Foxconn's Commitment to India

Liu stated, "So far, till last year, we have done USD 10 billion. We will do much more in this coming year." He made these remarks at the inauguration of Foxconn's women-only residential complex near their plant. Liu also noted that after visiting several Indian states, he felt that India is on the rise and expressed Foxconn's desire to grow alongside India's development.

During his visit, Liu met Prime Minister Narendra Modi and discussed Foxconn's investments in Tamil Nadu, Karnataka, and Telangana. He also held meetings with the chief ministers and state cabinet ministers of these states. This visit marks Liu's first trip to India since receiving the Padma Bhushan on the eve of the 75th Republic Day.

Focus on Women's Employment

The women-only residential complex was inaugurated by Tamil Nadu Chief Minister MK Stalin. Liu emphasized that Foxconn hires employees regardless of gender but highlighted the significant contributions of married women in India. "Foxconn hires regardless of gender, but women do make up a big part of our workforce here. I'd emphasise that married women greatly contribute to the efforts of what we are doing here," Liu said.

Foxconn recently faced allegations of discrimination against hiring married women. However, the company refuted these claims, stating that 25% of its new hires were married women. The company also mentioned that its Tamil Nadu plant employs about 70% women and 30% men, making it the largest factory for women's employment in India.

Employee Welfare Initiatives

Liu highlighted that opportunities for women in India are closely linked with ensuring their health and safety at work. He stressed that a sustainable living environment is crucial for their success. The newly built complex by the State Industries Promotion Corporation of Tamil Nadu (SIPCOT) will accommodate over 18,000 women employees on a room-sharing basis.

The project spans a 20-acre area and was constructed at a cost of approximately Rs 706 crore. Currently, Foxconn employs around 48,000 people in India. Liu noted an upward trend in all types of hiring by the Taiwanese electronics manufacturing giant in India.

Liu concluded his visit by reiterating Foxconn's commitment to being part of India's growth story and working together with the country to achieve mutual success.