Foxconn India Investment Surpasses $10 Billion with $1.4 Billion

20 Aug, 2024

Foxconn India Investment Surpasses $10 Billion with $1.4 Billion

Foxconn, the leading iPhone contract manufacturer, has seen its business in India surpass $10 billion as of 2024. The company's chairman, Young Liu, highlighted this milestone during the inauguration of a new women-only residential complex near Foxconn's plant. Foxconn has invested $1.4 billion in India to date and plans to significantly expand its operations in the coming years.

Liu, who recently received the Padma Bhushan award, praised India's growth during his visit. He met with Prime Minister Narendra Modi and discussed investments in Tamil Nadu, Karnataka, and Telangana. Liu also met with chief ministers and state cabinet ministers from these states.

The newly inaugurated residential complex, supported by the State Industries Promotion Corporation of Tamil Nadu (SIPCOT), will accommodate over 18,000 women employees. Liu emphasized that Foxconn hires employees regardless of gender, with a notable percentage of women, including married women, contributing significantly to its workforce. Despite previous allegations of gender bias, Foxconn maintains that women make up a substantial portion of its Indian workforce, and the company remains committed to providing opportunities and a supportive work environment for all employees.