MUMBAI: A high-level delegation from Maharashtra led by Industry Minister Subhash Desai, Additional Chief Secretary (Industries) Baldev Singh and MIDC CEO P Anbalagan met Young Liu, Chairman of Taiwan-based Foxconn, to discuss advanced investment plans in the semiconductor and consumer electronics segments.
Foxconn, the world’s largest electronics maker and 22nd on the Fortune 500 list, is expanding into semiconductor manufacturing and exploring the South Asian market for its next venture to build for the world. To this end, the company has held series of meetings with Prime Minister Narendra Modi and Electronics and IT Minister Ashwini Vaishnaw.
Over the past two years, arguably the toughest years for businesses worldwide, Maharashtra has secured investments of over Rs 6 lakh crore and allocated world-class industrial land, infrastructure and facilities to more than 80% of these investors in record time. With pioneering policies that are both lucrative for investors and strengthen the state’s value-added, manufacturing and skills sector ecosystems, Foxconn’s vision for the future aligns closely with the goal of the industry. state to attract global partners with a long-term vision.
Pune has become the most natural choice for Foxconn with one of the best talent pools, industrial ecosystem, consumer base and residential spaces in Asia. Foxconn will join a global league of original equipment manufacturers (OEMs) and world-class suppliers and partner with the state to build the global electronics and supply chain backbone.