With this, India Accounts for more than 5% of Foxconn's Global Business, and as per the group Chairman & CEO, "their is space for more investment."
Speaking on the company’s second quarterly financial results in Taipei on Monday Hon Hai Technology Group Chairman and CEO Young Liu said "Foxconn annual revenue was $200 billion. From the perspective of India's potential market size and if we can fully implement our plans there, several billion dollars in investment is only the beginning."
In India, Foxconn operates about 9 campuses, 30 factories and 20 dormitories that shelter tens and thousands of employees that work with Foxconn in the country, informed Liu. In addition to existing operations in Andhra Pradesh and Tamil Nadu, Foxconn will also deploy in Karnataka, Telangana and other states.
Foxconn has 137 campuses and offices in 24 countries and areas across the world.
Seemingly, India is currently a 'Hotspot' for Foxconn as earlier this month a top official of Foxconn-led open electric vehicle development platform, Mobility in Harmony Consortium, said that the company is targeting India for the production of a small battery-powered car, which is currently under development.
The group's CEO also shared that the Taiwanese firm also planning to establish industrial parks and optimize the business environment in terms of infrastructure, policies and laws, by cooperation with central and local governments in India.
Last month, Foxconn made a decision to exit a semiconductor joint venture project with Vedanta Group, citing a number of issues including external ones.
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