Foxconn eyes Hyderabad investment, Chairman Young Liu meets CM Revanth Reddy

Foxconn Chairman Young Liu met with Telangana Chief Minister A Revanth Reddy

Taiwanese electronics major Foxconn has expressed interest in exploring investment opportunities in Hyderabad, Telangana government said on Friday. Foxconn, a major supplier to Apple, has been expanding its presence in India as tech companies seek to diversify production away from China.

Foxconn Chairman Young Liu met with Telangana Chief Minister A Revanth Reddy in New Delhi and the latter invited the company to invest in a proposed "fourth city" to be developed on the outskirts of Hyderabad. "Liu said Foxconn is eager to explore investment opportunities in Hyderabad," an official statement from the Telangana government said.

Reddy assured Liu of full support, including necessary permits and incentives, for setting up factories in the state.According to Foxconn , during a meeting with Telangana Chief Minister A Revanth Reddy in New Delhi, Liu praised the CM's approach, particularly his plans for the development of the Fourth City project.

#WATCH | Foxconn Chairman Young Liu met Telangana CM Revanth Reddy at his official residence in Delhi, today. The Foxconn Chairman announced plans to visit Hyderabad with his team in the near future. (Video: Department of Public Relations, Telangana) pic.twitter.com/aVD2kgGL6C

— ANI (@ANI) August 16, 2024

Liu, impressed by the CM's visionary approach, expressed Foxconn's strong interest in exploring investment opportunities in Hyderabad. He revealed plans for an initial visit by a team, led by Chief Campus Operations Officer Kathy Yang and India

representative V Lee, followed by his own visit shortly after.

The meeting also included several high-ranking officials from both the Telangana government and Foxconn, signaling the potential for a significant partnership in Hyderabad’s industrial development. The meeting signals growing interest from global tech firms in Hyderabad, which is already home to companies like Microsoft and Google.