Foxconn Industrial Internet (Fii), a subsidiary of the iPhone maker Foxconn, has expressed its interest in investing Rs 8,800 crore in the state of Karnataka.
This investment is expected to create approximately 14,000 job opportunities.
Foxconn Industrial Internet To Invest Rs. 8800 In Karnataka
On July 17, Fii held a meeting with Karnataka Chief Minister Siddaramaiah and Industries Minister MB Patil to discuss their proposal for establishing a supplementary plant alongside their proposed unit in the Devanahalli ITIR region.
To proceed with the project, Fii requires around 100 acres of land. Company delegates are scheduled to visit the Japanese Industrial Township in Tumakuru on July 17 to assess the suitability of the land.
The proposed supplementary plant operated by Fii will primarily focus on manufacturing screens, outer coverings, and mechanical components required for iPhones. It will work in conjunction with the proposed end assembly unit located in Devanahalli.
During the meeting, Chief Minister Siddaramaiah highlighted the state’s supportive ecosystem for industrial growth and stressed the importance of collaboration between academia and industries.
Government To Facilitate Availability of Skilled Human Resources
Siddaramaiah assured the Fii team, led by CEO Brand Cheng, that the government would facilitate the availability of skilled human resources and encouraged them to set up the unit in the state.
Industries Minister MB Patil expressed the government’s full cooperation for the proposed projects. He also mentioned that the government is open to considering other proposals from the company, such as the establishment of a semiconductor manufacturing unit if presented.
The meeting, chaired by the Chief Minister, took place at Vidhana Soudha and was attended by IT/BT Minister Priyank Kharge and Chief Secretary Vandita Sharma. Fii delegates Michel Ling, Jason Lau, Angie Lein, Bharath Dandi, as well as ACS to CM Rajaneesh Goel, Industries Department Principal Secretary Selva Kumar, and Commissioner Gunjan Krishna were also present.
In conclusion, Foxconn Industrial Internet’s interest in investing a significant amount in Karnataka has the potential to stimulate economic growth and create numerous job opportunities. This investment will further enhance the state’s attractiveness as a destination for industrial development.
