25,000 direct jobs in Foxconn unit in Telangana, State aims for 150 bn investment, 1.50 M jobs in electronics

HYDERABAD: The new electronics manufacturing unit of the Foxconn Interconnect Technology being established at Kongara Kalan will create 25,000 jobs with an estimated investment of 500 million USD during the first phase.

This was announced at the groundbreaking ceremony of the unit on Monday by Minister for Industries & Commerce, ITE&C K T Rama Rao in the presence of Foxconn Interconnect Technology Chairman and CEO Sidney Lu.

Reflecting the speed at which the Telangana government moves in attracting and facilitating investments KTR said: “Telangana government has entered into an MoU with Foxconn in March and here we have gathered for the groundbreaking ceremony in May. This is called ‘Telangana Speed’,” KTR observed.

He said that the state aimed to 1.5 million workforce with an investment of 150 billion USD, the field of electronics manufacturing alone.

“Telangana has emerged as a preferred destination in high-tech manufacturing in India. We aspire to become the Shenzhen of India. We shall live up to the expectations and we have more than double our per capita income by bringing in 50 billion USD investment by materialising 22,700 agreements to create 2.3 million jobs,” he said.

He added that the state which was second in the country in the Information and Technology field, created 33 percent of the new technology jobs out of all the IT jobs country. “I appreciate the initiative of Foxconn to set up a training centre for the youth to train them in high-tech manufacturing,” KTR said.

“The new facility is a promise to continue delivering world-class products to the markets, and we welcome the participation of the local talent to create a brand name for Telangana in the global market,” Sidney Lu said.

P. Sabitha Indra Reddy, Minister of Education, and Jayesh Ranjan, Principal Secretary of IT and Industries were also present at the ceremony.