Foxconn, the Taiwanese electronics giant, has shown a keen interest in investment opportunities in Hyderabad, the Telangana government said in a statement on Friday.
Foxconn Chairman Young Liu recently met with Telangana Chief Minister A. Revanth Reddy in New Delhi. During the meeting, Reddy invited Foxconn to invest in a planned 'fourth city' on the outskirts of Hyderabad and assured Liu of full support, including necessary permits and incentives for establishing factories in the state.
Reddy also highlighted the city’s potential for growth across various sectors, including industrial and service industries.
According to an official statement from the Telangana government, Liu expressed Foxconn's enthusiasm about exploring investment prospects in Hyderabad.
Liu announced plans for an initial visit by a team led by Foxconn's Chief Campus Operations Officer Kathy Yang and India representative V Lee. He said he would follow up with a personal visit later.
Outlining the development plans for the proposed 'fourth city', Reddy said it would focus on multifaceted growth in sectors such as education, medicine, sports, electronics, electrical industries, and skill development.
The city will also feature a Young India Skill Development University.
Industrialists Anand Mahindra and Srinivasa Raju have been appointed as Chairman and Vice Chairman of the university, respectively.
State IT and Industries Minister D. Sridhar Babu briefed Liu on the government's pro-industrial policies, incentives, and international collaborations aimed at boosting industrial development.
Foxconn, a major supplier to Apple, has been expanding its presence in India as tech companies seek to diversify production away from China.
The meeting signals growing interest from global tech firms in Hyderabad, which is already home to companies like Microsoft and Google.
Several high-ranking officials from both the Telangana government and Foxconn were present at the meeting.
Neither Foxconn nor the Telangana government provided details on the size or nature of the potential investments discussed.
(With input from PTI)
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