Taiwanese contract manufacturer Foxconn is set to expand its operations in India by building townships in Tamil Nadu, replicating its successful models in Taiwan and China. Foxconn Chairman Young Liu, speaking to ET on Saturday, outlined the company’s ambitious plans to move up the value chain beyond smartphones, venturing into sectors like information and communication technology (ICT), electric vehicles (EV), batteries, and digital health.
Liu emphasized that Foxconn’s expansion in India is a strategic move to capitalize on the country’s growth potential over the next 10 to 20 years. “India means growth and the future,” he said, highlighting the company’s commitment to becoming a trusted partner in India’s journey.
Foxconn’s plans include building industrial parks with adjacent residential townships in Tamil Nadu, starting with a massive industrial housing project in Sriperumbudur. The townships aim to provide a sustainable living environment for the company’s workforce, with facilities like laundromats, gyms, recreational areas, and dining halls.
The company’s expansion also extends to the automotive sector, where it sees significant opportunities as the industry transitions to electrification and autonomous driving. Foxconn’s Mobility in Harmony (MIH) Consortium is a key initiative aimed at fostering collaboration in the EV ecosystem.
This is Liu’s second visit to India in a year, signaling Foxconn’s increased focus on the country as it diversifies its manufacturing operations away from China. The company is also exploring new product segments like AI servers, Pixel smartphones, and semiconductor manufacturing in partnership with HCL Group.
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