Foxconn, a major Taiwanese electronics company, plans to build a factory in Telangana, potentially employing more than 100,000 people.
Foxconn, the original equipment manufacturer for numerous electronics and mobile companies, including Apple, will reportedly create about 100,000 jobs, contributing to the direct and indirect employment of Telangana's youth.
During the course of ten years, the "historic transaction" might provide employment for more than one lakh individuals, it was claimed. The CM said, his government is on a mission to enhance Telangana and has undertaken various landmark initiatives to realise the goal of Bangaru Telangana. The Foxconn unit will contribute to the state's economic development by providing young people with ample work opportunities.
KCR emphasized that Telangana considers Taiwan as a natural partner and that the state is glad to be a part of Foxconn’s growth story. He praised Foxconn's large investment and the chance it presented to Telangana to produce more than one lakh new jobs.
"The state government has launched a number of high-profile initiatives to realise the goal of "Bangaru Telangana" and is on a quest to improve Telangana. Telangana's chief minister said, Foxconn's unit will contribute to the State's efforts to draw in additional similar industries and create a significant amount of jobs for young people. "We'll make sure that the local Telangana youth have access to as many of the 80,000 jobs that will be produced. Assure Chairman Young Liu that Foxconn will receive all necessary support from the State Government for its operations in Telangana, CM added.
The Chief Minister also promised to take action to make sure that the state's young have access to one lakh employment, and he reassured Young Liu that his administration will give Foxconn the support it needs to operate in the state.
The Foxconn Chairman praised Telangana's welcoming industrial development eco system and expressed satisfaction with the state's success in the industrial sector, particularly in the IT and associated electronics sectors, in just eight years. Lunch was provided by Rao for Young Liu and his group. Later that evening, Liu and Telangana Minister KT Rama Rao opened a prototype facility called T Works. Liu told reporters that his company is searching for locations and assessing the types of goods that should be produced in Telangana. The amount of investment depends on the products they plan to make.
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