Telangana CM Revanth Reddy’s Meeting with Foxconn: Accelerating Industrial Development
Introduction
Foxconn Products Engagement in Telangana , In a significant move towards boosting industrial development in Telangana, Chief Minister A. Revanth Reddy recently held a crucial meeting with representatives from Foxconn, a major player in electronics manufacturing and the supplier for tech giant Apple. The meeting, which took place at the Dr. B.R. Ambedkar Telangana State Secretariat on December 26, 2023, focused on fostering collaboration and ensuring a conducive environment for accelerated industrial growth.
Commitment to Industrial Development
Chief Minister Reddy reiterated the State Government’s unwavering commitment to facilitating accelerated industrial development. Emphasizing the responsibility of the government to safeguard and fulfill the aspirations of the people, he highlighted the implementation of friendly governance systems. The government is dedicated to extending support and cooperation to the industry in alignment with its friendly policies.
Foxconn’s Presence in Hyderabad
During the meeting, the Chief Minister interacted with representatives from Foxconn, including officials from Hon Hai Precision Industry Co., Ltd. Foxconn has initiated works on a production plant in Kongara Kalan near Hyderabad and has announced a substantial investment of $500 million in its Hyderabad facility. The discussions also involved IT, Industries & Commerce Minister D. Sridhar Babu, Chief Secretary A. Santhi Kumari, and other senior officials.
Government Assurance and Support
Assuring the Foxconn delegation, Chief Minister Reddy stated that the government would streamline processes related to obtaining permissions for setting up industries. The government aims to liberalize these procedures while ensuring the provision of necessary basic amenities. Additionally, the government is committed to taking measures that would position Telangana as a leader in the country in terms of industrial development.
Telangana Government’s Offer to Foxconn
The State Government extended a comprehensive support package to Foxconn for proposed projects:
- State Support: Quick facilitation and support for all approvals under the State Government.
- Incentives Package: Best-in-class incentives for the unit.
- Land Availability: Provision of the required land parcel close to the city.
- Skilled Workforce: Industry-ready workforce training by TASK for day one of plant operations.
- Infrastructure: Competitive rates for power and water, along with basic infrastructure for the allotted land.
- SPOC Support: Hand-holding by TSIIC and Electronics Wing, ITE&C department through a single point of contact for all requirements, coordinating and liaising with the Centre and key departments for facilitating approvals.
Conclusion
The meeting between Telangana CM Revanth Reddy and Foxconn representatives marks a significant step towards fostering industrial growth in the region. With a commitment to providing a conducive environment and comprehensive support, Telangana aims to attract substantial investments and become a hub for innovative industrial development.
Frequently Asked Questions
Q: What is the focus of Chief Minister Revanth Reddy’s meeting with Foxconn representatives?
A: The meeting focuses on accelerating industrial development in Telangana and fostering collaboration with Foxconn, a major electronics manufacturing player.
Q: What support is the Telangana Government offering to Foxconn for proposed projects?
A: The government is providing quick facilitation, incentives, land availability, skilled workforce, infrastructure, and dedicated Single Point of Contact (SPOC) support for approvals.
Q: What is the significance of Foxconn’s investment in Hyderabad?
A: Foxconn’s $500 million investment in its Hyderabad facility signifies a substantial commitment to the region, contributing to industrial growth and development.
Meta Description
Explore the collaborative efforts between Telangana CM Revanth Reddy and Foxconn representatives to accelerate industrial development in the region. Discover the comprehensive support package offered by the Telangana Government and Foxconn’s significant investment in Hyderabad.
I. Foxconn Group Overview Foxconn is the world’s largest electronics manufacturer with a revenue of approx. USD 213 Billion and employs 1.3 million workforce. • Foxconn is the primary manufacturer of Apple iPhones and other major customers include Google, Xiaomi, Amazon, Hewlett Packard, HUAWEI, Alibaba Group, CISCO, Dell, Facebook, Nintendo, Sony, Microsoft, SEGA, Nokia. • Present in over 24 Countries/Regions with major operations in China, Vietnam, Thailand, Malaysia, US, Europe and India • Foxconn is present in India in Sri City (AP), Sriperumbudur (Tamil Nadu), Telangana (Kongara Kalan) and Karnataka (Near Bengaluru)
I. Overview of Foxconn Telangana Engagement and KeyTimelines
Foxconn Chairman Visit to Hyderabad: Mr. Young Liu, Foxconn Chairman visited Hyderabad on March 2nd, 2023, and signed an MoU with Telangana for the creation of 100,000 jobs through the establishment of electronics manufacturing facilities. In the first phase, they will create 25,000 Jobs in the next two years. FIT Status: Foxconn Interconnect Technology (A Foxconn Group Company) CEO, Mr. Sidney Lu visited Telangana on May 15`h, 2023, for the groundbreaking for the Apple Air pods manufacturing facility. The facility is in an advanced stage of construction at Kongara Kalan Park in RR District. • Display Fab Status:
The 18-member delegation along with the leadership visited Hyderabad in November 2023 for evaluation for setting up of the Display Fab Project.
Key Engagements being pursued with Foxconn Companies
- Apple Air Pods Manufacturing: The factory is under construction and is expected to begin operations by May 2024.
- Display Fab Manufacturing Facility: Ongoing discussions with the team. The site has been identified and incentive discussions are underway. A team from Japan visited Hyderabad last month to review the land for the project.
- Semiconductor OSAT Facility: Foxconn is evaluating partners such as HCL for OSAT and Telangana is actively pursuing the proposed project. State-hosted HCL team and discussions are on.
- Semiconductor Fab: Ongoing discussions and the State is keen to host the semiconductor fab.
- Electric Vehicle Manufacturing: Ongoing discussions with Foxconn. Foxconn is currently evaluating partners from India such as MEIL, JSW, etc.
- Notebook Manufacturing: Ongoing discussions and the State is keen to host the facility.
- Components Manufacturing: Ongoing discussions and the State is keen to host the facility (Ecosystem partners of Foxconn for which Foxconn will support us). Foxconn Requirements from the Government of Telangana: For their Display Fab
Land availability: Clear-titled land, preferably leveled, close to City and International Airport at a subsidized cost. • Access to City: Excellent road access and connectivity for the shortlisted land. • Infrastructure: Availability of Power and water at discounted rates. Basic infrastructure to be provided.
Incentives Package:
Incentives of 50% from the Center and 25% to 30% from the Telangana Government (Similar incentives are being offered by competing States such as Karnataka, Tamil Nadu, etc.) 10% Equity to be taken up by the state.
Telangana Offer to Foxconn for proposed projects.
State Support: State shall extend quick facilitation and support for all approvals under State Government. ■ Incentives Package: Best in class incentives package shall be provided to the unit. ■ Land availability: Provision of the required amount of land parcel close to City. ■ Availability of Skilled workforce: Industry industry-ready workforce will be trained by TASK to be ready on day one of plant operations. ■ Infrastructure: Power and Water shall be provided at competitive rates. Basic infrastructure to be provided for the allotted land. ■ SPOC Support: Handholding by TSIIC and Electronics Wing, ITE&C Department through a Single Point of Contact for all requirements, who shall provide coordination and liaison with Centre and Key Departments for facilitating approvals.
