Foxconn Chairman Younger Liu on Friday arrived in Bengaluru to examine the corporate’s sprawling 300-acre iPhone meeting plant. His scheduled go to to the meeting plant is on Saturday (August 17).
Industries Minister MB Patil and Electronics, IT/BT Minister Priyank Kharge welcomed Liu on the airport earlier at this time. Liu, together with prime officers, will examine the progress of the upcoming facility on Saturday. That is his first go to to Bengaluru since Foxconn (Hon Hai Precision Business Co. Ltd) signed an MoU with the State Authorities final yr.
In March final yr, the federal government accredited Foxconn’s proposal to take a position $1 billion in organising an iPhone manufacturing unit, nicknamed “Venture Elephant.” The corporate later elevated its funding by a further $1.7 billion. Foxconn is setting up a state-of-the-art facility on a 300-acre plot within the IT funding area close to the worldwide airport, aiming to assemble 20 million smartphones yearly. The venture, with an funding of ₹22,000 crore, is anticipated to create over 50,000 jobs.
“The work is progressing effectively on this venture with building in progress. The Industries division helped the corporate get all approvals and licenses,” a press observe from the federal government learn.
Foxconn is establishing a cutting-edge facility in Bengaluru District for manufacturing and assembling mechanical parts for electrical autos, beneath the identify “Venture Cheetah.” Chief Minister Siddaramaiah and Deputy CM DK Shivakumar hosted a dinner for Foxconn’s chairman, Liu, in Bengaluru. Throughout their assembly, the CM expressed his enthusiasm for the venture, highlighting its potential to create a major variety of jobs within the state, bolster the native financial system, and empower the workforce, resulting in total prosperity within the area.
“It’s a nice privilege to deal with you at this time as we work collectively to deepen and strengthen the collaborative relationship between Foxconn and our state. This partnership is of immense significance, and I’m honored to be a part of an initiative that holds such important potential for mutual development and success,” he added.
“Karnataka has established itself as a powerhouse within the Electronics System Design and Manufacturing (ESDM) sector. With a number of main ESDM gamers working inside the state, we’re proud to be among the many prime contributors to India’s electronics manufacturing output and exports. To assist and facilitate aggressive electronics manufacturing, Karnataka provides a complete vary of benefits. From environment friendly logistics and dependable energy provide to a talented workforce and a resilient vendor base, our state is well-equipped to satisfy the wants of this dynamic business,’ the CM stated.
Foxconn will fee its new plant solely after receiving approval from Apple Inc., following an inspection by Apple’s workforce. As soon as operational, this plant will probably be Foxconn’s largest in India. Industries Minister MB Patil shared on X that Foxconn’s upcoming investments will tremendously contribute to Karnataka’s development. Final yr, the Karnataka Meeting amended the Factories Act, 1948, permitting employees to work as much as 12 hours a day, with a weekly cap of 48 hours, to draw investments within the electronics and semiconductor sectors.
