Foxconn looks to double India workforce, investments by 2024 - The Economic Times

Taiwanese contract manufacturer Foxconn aims to double its workforce and investment in India by next year, the company’s India representative V Lee said in a LinkedIn post on Sunday.
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Lee wished Prime Minister Narendra Modi on the occasion of his 73rd birthday and said the company was “aiming for another doubling of employment, FDI (foreign direct investment), and business size in India” by this time next year.

However, he did not divulge any further details. Foxconn, one of the makers of iPhone and the world's largest contract manufacturer, already has a sizeable presence in Tamil Nadu where its factory employs over 40,000 people.

On September 7, ET reported that Lee had confirmed the company was evaluating several states, including Tamil Nadu, for its EV ambitions.

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“In our last earnings call, chairman Liu had said the company will expand its diversified strategy including in the states of Karnataka and Telangana aside from Andhra Pradesh and Tamil Nadu,” Lee had told ET at the time.
“He said that our key components in India will first and foremost, be to do with consumer electronics. However, next year, he said there will also be EV key components in India.”

( Originally published on Sep 17, 2023 )

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Foxconn looks to double India workforce, investments by 2024 - The Economic Times
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