Andhra Pradesh offers Foxconn with proposal for 'manufacturing city' and subsidies

  • Industry News
  • Aug 21,24
The IT minister also promised to develop a new electronics policy to further incentivise the sector.
Andhra Pradesh offers Foxconn with proposal for 'manufacturing city' and subsidies


Andhra Pradesh's Education and IT Minister, Nara Lokesh, has extended an enticing offer to electronics giant Foxconn, inviting the company to establish a ‘manufacturing city’ in the state. Lokesh met with Foxconn representatives this week to discuss the proposal.

“Instead of setting up just another unit, we encourage you to build a mega manufacturing city in Andhra Pradesh,” Lokesh told the delegation. He emphasised the state government's goal of creating 2 million jobs and expressed confidence in Foxconn's ability to help achieve this target.

Lokesh assured Foxconn of comprehensive support, including a dedicated policy framework and subsidies designed to boost employment. He also promised to develop a new electronics policy to further incentivise the sector.

Highlighting the state's resources and successful investment history, including the Kia Motors plant, Lokesh assured Foxconn of personalised assistance throughout the establishment process. “I will personally oversee the support and formulate a special plan for this project,” he affirmed.

Vi Li, Indian representative, Foxconn  recognised the previous efforts of former Chief Minister Chandrababu Naidu to attract investment and expressed interest in revitalising the company’s relationship with the state. Despite acknowledging past challenges, Li confirmed Foxconn's global expansion plans and interest in Andhra Pradesh.

The official statement noted that Foxconn is exploring opportunities in various sectors, including electric vehicle manufacturing, semiconductors, digital health, and component manufacturing. Li assured Lokesh of Foxconn's commitment to contributing to the 2 million job goal.

The meeting concluded with a tentative agreement for Foxconn to invest substantially in Andhra Pradesh and generate significant employment opportunities. Lokesh urged the company to initiate their planning process promptly.
(Business Today)

Related Stories

Machine Tools & Accessories
Boehlerit’s THETAtec 25N Feed tool system redefines high feed milling

Boehlerit’s THETAtec 25N Feed tool system redefines high feed milling

High performance cutting brings productivity increases and measurable cost reductions at the same time. With the new THETAtec 25N Feed, Boehlerit now offers another high-end tool system for this mac..

Read more
Automation & Robotics
Igus expands readycable portfolio with new cables for industrial camera tech

Igus expands readycable portfolio with new cables for industrial camera tech

Ready-to-connect, durable and tested cables with Keyence plug-in connectors increase the reliability of vision systems.

Read more
Material Handling Equipment
Gandhi Automations’ Prime Metallic high-speed door offers security & efficiency

Gandhi Automations’ Prime Metallic high-speed door offers security & efficiency

Gandhi Automations’ Prime Metallic high-speed doors are becoming essential for modern industries, providing enhanced security, energy efficiency, and streamlined logistics.

Read more

Related Products

Integrated Electric Gripper S Series

ELECTRICAL & ELECTRONIC EQUIPMENT

IBK Engineers Pvt Ltd offers a wide range of integrated electric gripper S series.

Read more

Request a Quote

Geared Electric Motors

ELECTRICAL & ELECTRONIC EQUIPMENT

Delco Fans Pvt Ltd offers single phase capacitor run and three phase geared Instrument motors, totally enclosed face/foot mounted.

Read more

Request a Quote

Hi There!

Now get regular updates from IPF Magazine on WhatsApp!

Click on link below, message us with a simple hi, and SAVE our number

You will have subscribed to our Industrial News on Whatsapp! Enjoy

+91 84228 74016