Under Project Elephant, Foxconn is setting up an iPhone assembly plant in Karnataka. The company has acquired 300 acres of land in the ITIR industrial area, located in Doddaballapur and Devanahalli Taluk of Bengaluru Rural district. The project, with an investment size of Rs 22,000 crore, is expected to generate employment for more than 50,000 people.
Young Liu, Chairman of the Taiwan-based Hon Hai Technology Group (Foxconn), met Karnataka Chief Minister Siddaramaiah and Deputy Chief Minister DK Shivakumar on August 16.
Young Liu, chairman of the Taiwan-based Hon Hai Technology Group (Foxconn) on August 16 said that the unit in Karnataka will soon become the second-largest Foxconn plant after the one in China.
Taiwanese electronics major Foxconn, a major supplier to Apple, has been expanding its presence in India as tech companies seek to diversify production away from China.
Under Project Elephant, Foxconn is already setting up an iPhone assembly plant in Karnataka. The company has acquired 300 acres of land in the ITIR industrial area, located in Doddaballapur and Devanahalli Taluk of Bengaluru Rural district. The project, with an investment size of Rs 22,000 crore, is expected to generate employment for more than 50,000 people.
“It will create 40,000 direct jobs, especially for middle-level educated individuals, and our investment will not stop here. In the future, we plan to explore other sectors also .If there is mutual trust, anything can be achieved.” said Liu.
Liu also shared that Foxconn plans to create a comfortable working environment for its employees, providing them with quality entertainment, gym facilities, accommodation, and food. “This would help establish a global standard industrial environment” he said.
Liu met Karnataka Chief Minister Siddaramaiah and Deputy Chief Minister DK Shivakumar on August 16. Siddaramaiah hosted a dinner for Liu and senior Foxconn officials, assuring Liu that all necessary cooperation and assistance would be provided to Foxconn for its operations in the state. Liu is also expected to visit the manufacturing plant in Doddaballapur on August 17.
The CM urged Foxconn to consider investing in other sectors, including the fab industry. He said that Karnataka’s rich industrial culture and values make it an ideal hub for comprehensive industrial development.
“Foxconn, which is investing Rs 25,000 crore to establish a massive manufacturing plant near Doddaballapur, will be provided with all necessary infrastructure and support. The state government will extend full support to Foxconn. We will provide everything from water, electricity, and roads to legal assistance,” the CM said.
Industries minister MB Patil said, “The state welcomes more investment without hesitation. The government departments are working with dedication to ensure the smooth implementation of Foxconn’s project. We have already allocated 300 acres of land to the company.”
Deputy CM DK Shivakumar said, “Karnataka has the best business-friendly policies in the country, and it is heartening to see Foxconn investing here.”
source/content: moneycontrol.com (headline edited)