India Can Build Manufacturing Ecosystem Faster than China, Says Foxconn

India Can Build Manufacturing Ecosystem Faster than China, Says Foxconn

Foxconn Technology Group Chairman Young Liu has backed India as an important country for the future of manufacturing, saying that the opportunities for development of electronics manufacturing and industrial chains in the country were huge.

Speaking to the media at a group event in Taipei, Liu said that India would be able to build the ecosystem faster than China, which took 30 years, on the back of experience and new technologies such as artificial intelligence (AI).

In July this year, while addressing SemiconIndia 2023, Liu said that he was optimistic about the direction of India’s semiconductor roadmap and asserted that Taiwan would be India’s most trusted and reliable partner.

Operational in India since 2005, Foxconn has been making smartphones for Xiaomi over the past couple of years. The largest contract manufacturer of iPhones in the world is also the largest maker of iPhones in India. It is also keen to set up a semiconductor manufacturing plant in the country. In another statement, Liu had said that the company’s Indian arm has achieved a turnover of about $10 billion on an annual basis, and that there is a lot of investment potential in the South Asian country. The company that operates nine campuses in India, across Andhra Pradesh and Tamil Nadu, intends to expand its presence through manufacturing campuses in Karnataka and Telangana, he added.