Telangana Chief Minister A Revanth Reddy meets Chairman of Foxconn Young Liu
Credit: X/@RevanthReddy
Hyderabad: While Taiwanese electronics major Foxconn had announced their largest campus after China in Karnataka, political sparks were flying thick in Telangana as opposition BRS questioned the integrity of the Congress government in Telangana.
On Saturday, BRS working president K T Rama Rao stated that the then BRS government had signed an MoU with Foxconn to create one lakh jobs in Telangana. However, KTR raised doubts about whether the Taiwanese company backed out due to Revanth Reddy's words and administrative failures and shifted its expansion to Karnataka.
Talking to reporters, KTR highlighted that Foxconn, after China, has announced plans to set up its second-largest campus in Bengaluru. He demanded that the government reveal the truth about the Foxconn investments and its expansion plans in Telangana state. He also questioned whether the company would continue with its expansion, urging the Chief Minister to clarify if Foxconn’s decision to move to Bengaluru was due to the government's failures.
Foxconn Group, which had promised to invest $550 million in Telangana, entered into an agreement with the then-BRS government in March last year. Foxconn also pledged to create one lakh jobs by establishing an electronics manufacturing unit. In the first phase, the company was to provide 25,000 jobs in the next two years.
Following the signing of the MoU, the Taiwanese contract manufacturer also held a groundbreaking ceremony in the Kongara Kalan area in May last year for the facility to make Apple AirPods.
At that time, the government said the proposed facility would serve as a hub for Foxconn Interconnect Technology's operations in Telangana, allowing the firm to expand its production capacity.
Incidentally, on the day Foxconn Chairman Young Liu announced the Bengaluru campus, he also met Telangana Chief Minister A Revanth Reddy in Delhi and informed him he would soon visit Hyderabad to explore investment opportunities.
Yang Liu is said to have told Revanth Reddy in Delhi that Hyderabad city has the potential to expand in all sectors, including industrial and service sectors.
He opined that the city holds immense potential for future growth. Liu announced plans to visit Hyderabad with his team. Revanth briefed Liu's Foxconn delegation on Hyderabad's rich history, industrial prospects, and favourable climatic conditions.