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BY Dinesh Sharma
New Delhi, June 24: The meeting of the Chairman of Foxconn, Mr. Young Liu, with the Prime Minister, Mr. Narendra Modi, here on Thursday is highly significant in the backdrop of India’s intensive plan to boost the domestic industry, especially of high tech nature.
The visit of the Foxconn’s Chairman to India is extremely important as amplified by the Prime Minister himself in a tweet that said “glad to meet Young Liu, Chairman, Foxconn. I welcome their plans for electronics manufacturing capacity in India, including semiconductors. Our push for EV manufacturing is in line with our commitment of Net Zero Emission”.
The Foxconn delegation led by its Chairman also called on Ministers of Communications, Electronics and Information Technology Ashvini Vaishnav and Minister of State for Electronics and Technology Rajeev Chandrasekhar.
It may be mentioned that the Government of India has been making efforts to cut its dependence of critical products on imports, especially from China. Foxconn being one of the largest manufacturers of electronic goods in the world, plans to step up its investment in India.
In fact, the company is now planning to manufacturing electric vehicles (EVs) in India, another priority sector of the government, a point highlighted during the meeting between the Prime Minister and Foxconn’s boss.
The emphasis on EVs is all the more important as New Delhi wants to cut its fossil fuel use and also fulfill its global commitment to reduce carbon emissions.
The Taiwanese company too is keen to diversify its production from China as the military tension has grown recently between the two countries. Both India and Taiwan find themselves on the same page in the face of the aggressive behavior of Beijing.
In the wake of disruption in supply chain caused by Covid-19 pandemic and Russia’s war on Ukraine, Taiwan is looking for countries like India and Vietnam to shift parts of its production of electronics, semiconductors and EVs. Foxconn is currently manufactures Apples phones at its facility in Tamil Nadu.
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