Hyderabad: Taiwanese electronics major Foxconn may invest in Telangana. Foxconn Chairman Young Liu met Telangana Chief Minister A Revanth Reddy on Friday and informed him he would soon visit Hyderabad to explore investment opportunities.
Yang Liu 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.
The Chief Minister elucidated about the phase-wise development of three cities in Hyderabad, whose foundation stone was laid under 430 years.
He outlined the development of the Fourth City, which will focus on multifaceted growth in sectors such as education, life sciences, medicine, sports, electronics, electrical industries, and skill development.
Revanth Reddy highlighted the establishment of the Young India Skill University, a key component of the Fourth City project on the outskirts of Hyderabad.
He said that eminent industrialists are involved in the design of the syllabus to provide the necessary skills and human resources that equip the youth with modern industry skills.
As part of that, top industrialist Anand Mahindra has been appointed as the chairman of Skill University, and another industrialist Srinivasa Raju has been appointed as the vice chairman.
Chief Minister Revanth Reddy explained to them all the advantages of Hyderabad, including the International Airport, the Outer Ring Road (ORR), and the Regional Ring Road (RRR).
Chief Minister Revanth Reddy assured Foxconn of full support for setting up their factories in the Fourth City, including necessary permits and incentives. The CM invited Fixconn to invest in Fourth City.
State IT and Industries Minister D. Sridhar Babu also briefed Liu on the government's pro-industrial policies, incentives, and international collaborations aimed at boosting industrial development.
D Sridhar Babu told Chairman Young Liu about the steps taken by the government led by Chief Minister Revanth Reddy for industrial development, the incentives provided, and the discussions and agreements made by his team led by Chief Minister Revanth Reddy during his recent visit to the USA and South Korea.
The Telangana CMO informed Young Liu that he was very impressed by the Chief Minister's vision and pro-industrial policies in the design of the Fourth City.
The meeting also featured several high-ranking officials from both the Telangana government and Foxconn.