Prime Minister Narendra Modi met with Young Liu, CEO and Chairman of Foxconn (Hon Hai Technology Group), on Wednesday to discuss potential investment opportunities in India across key technology sectors. The meeting focused on areas like artificial intelligence (AI), semiconductor manufacturing, and boosting local electronics production.

PM Modi highlighted the “wonderful opportunities India offers in futuristic sectors” in a post on X (formerly Twitter) after the meeting. “We also had excellent discussions on their investment plans in India in states like Karnataka, Tamil Nadu and Andhra Pradesh,” he added.

Foxconn, a major Apple supplier and a leading manufacturer of iPhones globally, has been steadily expanding its manufacturing footprint in India. The company already employs over 40,000 people at its iPhone factory in Tamil Nadu and has committed significant investments in new facilities across multiple states.

Tamil Nadu: Foxconn has signed an agreement to invest Rs 1,600 crore in a new electronics components unit, creating over 6,000 jobs.

Telangana: The company plans to invest an additional Rs 3,300 crore in its manufacturing facility, bringing its total investment in the state to more than Rs 4,550 crore.

Young Liu, who was awarded the Padma Bhushan earlier this year, has praised India’s efforts to create a favourable environment for electronics manufacturing. He believes that government reforms and policies have fostered a thriving ecosystem for the industry.

India has witnessed a significant rise in electronics exports, particularly driven by iPhones, over the past decade. The country aims to reach $300 billion in overall electronics production by FY26.