iPhone supplier Foxconn to invest in Telangana, 'create 1 lakh jobs'

Telangana chief minister K Chandrasekhar Rao, Foxconn chairman Young Liu, Telangana's IT and industries minister KT Rama Rao after the signing of the agreement for investment in the State

Telangana's industries and information technology minister KT Rama Rao on March 2 announced a "mega investment" by Apple's iPhone supplier Foxconn in Telangana, which he said would create 1 lakh jobs.

"Super stoked to announce a mega investment by @HonHai_Foxconn in Telangana that will create employment for a whopping One Lakh youngsters in Telangana. The announcement is made after Chairman of FoxConn Mr Young Liu met Hon'ble CM Sir KCR Garu at Pragathi Bhavan today (sic)," he tweeted

Later in the evening, Liu and Rao will inaugurate the state government's T-Works, where innovators can design and build prototypes for their innovation.

In another tweet, from the account of Chief Minister K Chandrasekhar Rao, the government announced that an agreement was signed between Foxconn and Telangana.

A rough English translation of the Telugu tweet reads, "This agreement paves the way for Hon Hai Foxconn to set up an electronics products industry in the State."

More details about the investment are awaited.

On his second visit to India, Liu met Prime Minister Narendra Modi on March 1. He also met ministry of electronics and information technology secretary Alkesh Kumar Sharma and his colleagues.

These meetings and investment come at a time when the government has said that it would approve two applications to start building electronics chip manufacturing plants in the country.

Last year, Foxconn, announced that it acquired 4.08 million shares in Foxconn Hon Hai Technology India Mega Development Private Limited for $500 million. With the investment, Taiwan-based Foxconn, which is the world's largest contract electronics maker, plans to take the workforce at its plant in Tamil Nadu to 70,000 by adding 53,000 more workers over the next two years.

Apart from that, a joint venture between Indian conglomerate Vedanta and  Foxconn has picked the Dholera Special Investment Region near Ahmedabad in Gujarat for setting up a semiconductor and display manufacturing facility.