Foxconn Investment: Taiwan’s chip and smartphone maker Foxconn is going to set up plants in Karnataka and Telangana. The new plant that is going to be set up in Karnataka will be built on 300 acres near the airport in the capital Bengaluru. For this, the company can make a huge investment of $700 million. At the same time, the company will set up electronics manufacturing setup in Telangana. And last year there was news that the company is going to invest in Gujarat in a joint venture with Vedanta.
What is Foxconn’s investment plan for Karnataka?
Through the historic agreement, jobs will be given to more than 1 lakh people in Karnataka in a period of 10 years. This Taiwanese company is going to make a big investment in the state and Apple phones will be made in India in a new 300-acre factory in Karnataka.
Foxconn to set up electronics manufacturing unit in Telangana
Foxconn, a major company in the electronics sector, is also going to make a big investment in Telangana. Foxconn has entered into an agreement with the Telangana government to set up an electronics manufacturing setup. Along with this, this company has also promised to provide employment to more than 1 lakh people in this project in the state. Telangana CM K Chandrasekhar Rao (KCR) said that Foxconn’s huge investment and the opportunity to create more than 1 lakh jobs in Telangana is commendable.
What is Foxconn’s investment planning in Gujarat?
The upcoming Vedanta-Foxconn plant in Gujarat will bring direct investment of $ 2 billion and indirect investment of $ 5 to 8 billion in the state. Apart from this, the Gujarat government will get a revenue of Rs 26,200 crore directly in the form of GST. At the same time, 2 lakh people of the state will get job opportunities.
How many people will get employment in all the three states
About one lakh employment opportunities can be created from the proposed plant in Karnataka. Apart from this, 1 lakh people have been promised jobs in Telangana as well. That is, in total, 2 lakh people are going to get job opportunities in both the states. On the other hand, about 2 lakh people will get direct and indirect job opportunities in Gujarat. This figure can be called good in terms of new jobs.
How good is Foxconn’s investment for the states?
Both Karnataka and Telangana are southern states of the country and with this investment where the people of southern states will get employment opportunities in their own state. Apart from this, big industrial investment is going to come in the states, which will make a big contribution in improving the condition of these states. The harmony of both employment and investment is going to prove very wonderful for these three states.
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