Karnataka CM seeks further investment from Foxconn

Karnataka Chief Minister Siddaramaiah on Friday assured Taiwanese electronics major Foxconn of his government's complete support and commitment to ensure it gets all the assistance required and requested the company to further invest in the state.

The chief minister held discussions with Young Liu, the Chief Executive Officer and Chairman of Hon Hai Technology Group (Foxconn), and his team at a dinner meeting.

Expressing all the support from his government for the massive manufacturing plant that the company is establishing near Doddaballapura, he encouraged Foxconn to consider investing in other sectors, including the fab industry.

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"... we work together to deepen and strengthen the collaborative relationship between Foxconn and our state. This partnership is of immense importance, and I am honoured to be part of an initiative that holds such significant potential for mutual growth and success," Siddaramaiah said.

During his address at the dinner meeting, he said, that Karnataka has established itself as a powerhouse in the Electronics System Design and Manufacturing (ESDM) sector.

Noting that to support and facilitate competitive electronics manufacturing, Karnataka offers a comprehensive range of advantages, the CM said, from efficient logistics and reliable power supply to a skilled workforce and a resilient vendor base, the state is well-equipped to meet the needs of this dynamic industry.

In response, Young Liu said, "Our investment will not stop here; in the future, we plan to explore other sectors also."

"The unit in Karnataka will soon become the second-largest Foxconn plant after China's unit. It will create 40,000 direct jobs, especially for middle-level educated individuals. If there is mutual trust, anything can be achieved," he was quoted as saying in a release issued by Minister Patil's office.

Foxconn is setting up an iPhone assembly plant (Project Elephant) in Karnataka. The company has acquired 300 acres of land in the ITIR Industrial Area, located in Doddaballapura and Devanahalli Taluk of Bengaluru Rural District. The project, with an investment size of Rs 22,000 crore, is expected to generate employment for over 50,000 people, the government said.

"Currently, the work is progressing well in this project with construction in progress. The C&I (Commerce & Industries) Department, in collaboration with other relevant departments, is actively working on securing all necessary license approvals for the project. Additionally, power and water supply specific to the project are being planned and implemented," it said.

Additionally, Foxconn is setting up a manufacturing and assembly facility for mechanical components in EV applications (Project Cheetah). The company has leased private land in the Bengaluru District for this project.