Advertisment

Foxconn eyes Hyderabad investment, CM Reddy pitches 'fourth city' project

author-image
NewsDrum Desk
Updated On
New Update
Telangana Chief Minister A Revanth Reddy

Telangana Chief Minister A Revanth Reddy

Hyderabad: Taiwanese electronics major Foxconn has expressed interest in exploring investment opportunities in Hyderabad, Telangana government said on Friday.

Advertisment

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.

Reddy assured Liu of full support, including necessary permits and incentives, for setting up factories in the state.

"Liu said Foxconn is eager to explore investment opportunities in Hyderabad," an official statement from the Telangana government said.

Advertisment

The Foxconn chairman noted that Hyderabad has the potential to expand in all sectors, including industrial and service sectors.

Liu announced plans for an initial visit by a team led by Foxconn's Chief Campus Operations Officer Kathy Yang and India representative V Lee. He said he would follow up with a personal visit later.

Outlining the development plans for the proposed "fourth city", Reddy said it would focus on multifaceted growth in sectors such as education, medicine, sports, electronics, electrical industries, and skill development.

Advertisment

The city will also feature a Young India Skill Development University.

Industrialists Anand Mahindra and Srinivasa Raju have been appointed as Chairman and Vice Chairman of the university, respectively.

State IT and Industries Minister D Sridhar Babu briefed Liu on the government's pro-industrial policies, incentives, and international collaborations aimed at boosting industrial development.

Advertisment

Foxconn, a major supplier to Apple, has been expanding its presence in India as tech companies seek to diversify production away from China.

The meeting signals growing interest from global tech firms in Hyderabad, which is already home to companies like Microsoft and Google.

Several high-ranking officials from both the Telangana government and Foxconn were present at the meeting.

Advertisment

Neither Foxconn nor the Telangana government provided details on the size or nature of potential investments discussed.

Advertisment
Advertisment
Subscribe