MUMBAI: A high-powered delegation from Maharashtra led by industries minister Subhash Desai, additional chief secretary (industries) Baldev Singh and CEO MIDC P Anbalagan met with Young Liu, Chairman of Taiwan-based Foxconn, to discuss advanced investment plans in the semiconductor and consumer electronics segments.
Foxconn, the largest electronics manufacturer in the world and 22nd in the list of Fortune 500 companies, is expanding into Semiconductor manufacturing and exploring the South Asian market for its next venture to build for the world. To this effect, the firm held rounds of meetings with Prime Minister Narendra Modi and Minister for Electronics and IT Ashwini Vaishnaw.
In the past two years, arguably the toughest years for businesses worldwide, Maharashtra secured over Rs 6 lakh crore investments and has allocated world-class industrial land, infrastructure, and facilities to over 80% of these investors in record time. With pioneering policies that are both lucrative to the investors 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.
Pune 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 original equipment manufacturer (OEMs) and world-class suppliers and will partner with the state to build the world’s electronics and supply chain backbone.