 "Siddaramaiah Foxconn CEO meet")
During his address at the dinner meeting, he said, Karnataka has established itself as a powerhouse in the Electronics System Design. | Source: X (@siddaramaiah)
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, Chief Executive Officer and Chairman of Hon Hai Technology Group (Foxconn) and his team, during the dinner meeting organised at a private hotel here.
“… 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, 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.
“It gives me immense pleasure to note that your project will create substantial employment opportunities within the state. This not only boosts the local economy but also empowers our workforce and enhances the overall prosperity of the region,” he said.
“We (govt) assure you of our complete support and commitment to ensure Foxconn gets all the assistance required in this process. Our government is always ready to support you and I request you to further invest in Karnataka. Karnataka is a beautiful state and it has got the potential for investment,” he added.
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 50,000 plus people.
“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,” the government 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 Bengaluru District for this project.
Deputy Chief Minister D K Shivakumar, Minister for Large and Medium Industries M B Patil, Minister for Information Technology Priyank Kharge, and senior officials were present at the meeting.
Earlier in the day, after receiving Young Liu at the airport, along with Kharge and officials, Minister Patil in a post on ‘X’ said, “Foxconn’s forthcoming investments in the state are poised to significantly contribute to Karnataka’s growth trajectory. I look forward to productive discussions.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Aug 16 2024 | 10:29 PM IST
