The electronics manufacturing company Foxconn, which shifted its operations from China to India, has seen remarkable success. The Indian government’s ‘Make in India’ initiative encouraged foreign companies to invest in the country, and Foxconn seized this opportunity without delay. Facing various challenges in China, the company might not have anticipated such impressive success in India. Foxconn’s business in India has exceeded Rs 83,000 crore by 2024, despite an initial investment of only Rs 11,620 crore.
Foxconn’s Chairman, Young Liu, stated, “As of last year, we have achieved over $10 billion (Rs 83,000 crore) in business, and we expect to do even more in the coming years.” He made this comment during the inauguration of a residential complex for women near Foxconn’s plant.
Foxconn is a Taiwanese company and the world’s largest electronics manufacturer, primarily producing iPhones and other Apple products. Recently, the company has also expanded into the chip manufacturing business.
Liu was honoured with the Padma Bhushan award on the eve of Republic Day this year. During his current tour, he met with several state chief ministers and mentioned, “India is progressing, and Foxconn wants to be a part of this growth. We will move forward with India’s development.” This was Liu’s first visit to India since receiving the Padma Bhushan. He started his India trip with a meeting with Prime Minister Narendra Modi, discussing Foxconn’s investments in Tamil Nadu, Karnataka, and Telangana.
Tamil Nadu Chief Minister MK Stalin inaugurated the women’s residential complex. Liu emphasised that there is no gender discrimination at Foxconn, but noted that women, particularly married women, have made significant contributions to the company’s success. Recently, Foxconn faced allegations of discrimination against married women, which the company denied, stating that 25% of their new hires were married women.
Currently, about 48,000 employees work at Foxconn’s India plant, with 70 per cent being women. The Tamil Nadu plant is the largest employer of women in the country. The SIPCOT-built complex spans 20 acres, costing approximately Rs 706 crore, and can accommodate over 18,000 female employees.
Foxconn has rapidly expanded its business in India, with its main manufacturing plant in Tamil Nadu producing iPhones. The company is also investing in Karnataka and Telangana. The company aims to further expand in the Indian electronics manufacturing market and become a part of India’s growing technology ecosystem. Foxconn, officially known as Hon Hai Precision Industry Co., Ltd., was established in 1974.
To reduce dependency on China and avoid supply chain disruptions, Foxconn and other large companies made strategic decisions to expand into other countries. Rising labour costs in China also motivated Foxconn to shift its production base to India. The ‘Make in India’ initiative by the Indian government played a crucial role in attracting foreign investments, with subsidies, tax breaks, and other incentives enticing companies like Foxconn.
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