Foxconn to Create 100,000 Jobs in India in the Next Ten Years

FTT World - March 03, 2023

Foxconn Technology Group, one of the world's largest electronics manufacturers, has signed an agreement to set up a factory in Telangana, southern India, with the aim of creating 100,000 jobs in the next ten years. The announcement comes after a meeting between Foxconn Chairman Liu Yangwei and Telangana Chief Minister K Chandrasekhar Rao, where they discussed the terms of the agreement.

Negotiations and Agreement

During the meeting, the Telangana government and Foxconn negotiated the terms of the agreement, which were later finalized. The government did not disclose the amount of investment Foxconn is making in the state, nor did it specify the products that will be manufactured in the factory. However, sources have indicated that Foxconn plans to hire an additional 53,000 employees in India within the next two years, bringing the total number of employees in the southern Indian factory to 70,000.

Impact on the Indian Job Market

This investment will create a significant impact on the Indian job market, particularly in the state of Telangana, where unemployment rates are relatively high. The move by Foxconn to set up a factory in the state is expected to boost the local economy and create a multitude of opportunities for the state's workforce.

The government has welcomed the agreement and expressed its commitment to support Foxconn in setting up the factory. "We are committed to providing a conducive environment for businesses to grow and prosper in the state. The agreement with Foxconn is a testimony to our efforts in this regard," said K Chandrasekhar Rao, Telangana Chief Minister.

Foxconn's Expansion Plans in India

Foxconn's move to expand its operations in India is part of its broader expansion plans in the country. The company has been operating in India since 2006, and in recent years, it has significantly increased its presence in the country.

In 2020, Foxconn announced plans to invest $1 billion in India to expand its manufacturing capabilities. The investment is expected to create 6,000 jobs in the country. The company has also been in talks with the Indian government to set up a manufacturing plant for Apple products in the country.

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