Prime Minister Narendra Modi today met Foxconn Chairman Young Liu to discuss the latter’s investment plans.
The meeting has taken place weeks after New Delhi started investigating possible discriminatory hiring practices at a Foxconn plant.
Foxconn
Hon Hai Technology Group (Foxconn) (TWSE: 2317), established in Taiwan in 1974, is the world’s largest electronics manufacturer.
Foxconn is also the leading technological solution provider.
The company continuously leverages its expertise in software and hardware to integrate its unique manufacturing systems with emerging technologies.
PM Modi Describes Meeting With Liu
In a post on X, Modi highlighted to Liu the wonderful opportunities India offers in futuristic sectors
Modi wrote, “We also had excellent discussions on their investment plans in India in states like Karnataka, Tamil Nadu and Andhra Pradesh.’’
Modi sees Foxconn’s 2317.TW iPhone factory in India and Apple’s AAPL.O expansion of its supply chain in the South Asian nation, beyond China, as potentially helping the world’s most populous country move up the economic-value chain.
Foxconn Hiring Practices
A Reuters investigation published in June found that the company excluded married women from assembly jobs at its main Indian iPhone plant in Tamil Nadu.
Foxconn acknowledged some lapses in hiring practices in 2022.
The company said it had worked to address the issues.
It however “vigorously refutes allegations of employment discrimination.”
Taiwan’s Foxconn in recent years has expanded in India, where it makes iPhones and products for other smartphone brands.
Foxconn’s Plans
The company has plans to move into AirPods and chipmaking.
Still, Foxconn withdrew in July last year from a $19.5 billion semiconductor joint venture with Indian conglomerate Vedanta.
This was a setback to Modi’s chipmaking plans for India.
Indian Government Looks Into Hiring Practices
Modi’s government ordered Tamil Nadu to provide a “detailed report” and government officials visited the Foxconn factory to question executives about hiring practices.
New Delhi has not yet released any findings.
Modi’s post on X on Wednesday did not address any of those issues.
Moreover, the Prime Minister’s Office did not immediately respond to an email seeking details about the talks.
Liu’s Leadership
Liu, appointed to his current role in 2019, initiated the company’s direction and strategies that are enabling it to chart its next phase of global growth.
Known as the 3+3 strategy, Foxconn’s primary growth drivers cover three major industries and three core technologies.
These three industries are Electric Vehicles, Digital Health and Robotics.
The three core technologies are Artificial Intelligence, Semiconductors, and Next-Generation Communications Technologies.
(With Inputs From Reuters)
