Foxconn, the leading iPhone contract manufacturer, has reported that its business in India has surpassed the $10 billion mark as of 2024. The company has invested $1.4 billion in the country so far, according to Foxconn Chairman Young Liu.
“So far, till last year, we have done more than USD 10 billion in business size. We will do much more in this coming year,” Liu stated during the inauguration of Foxconn’s women-only residential complex near its plant in Tamil Nadu.
Liu, who was recently honored with the Padma Bhushan award, emphasized the company’s commitment to India’s growth. “After visiting so many states in India I felt that India is ascending. Foxconn wants to be a part of it. We will grow together with India’s growth,” he said.
During his week-long visit to India, Liu met with Prime Minister Narendra Modi to discuss Foxconn’s investments in Tamil Nadu, Karnataka, and Telangana. He also engaged with the chief ministers and state cabinet ministers of these states.
The newly inaugurated women-only residential complex, which is set to accommodate over 18,000 women employees, was inaugurated by Tamil Nadu Chief Minister M.K. Stalin. The complex, developed by the State Industries Promotion Corporation of Tamil Nadu (SIPCOT), spans 20 acres and was built at a cost of approximately Rs 706 crore.
Liu highlighted Foxconn’s inclusive hiring practices. “Foxconn hires regardless of gender, but women do make up a big part of our workforce here. I’d emphasise that married women greatly contribute to the efforts of what we are doing here,” he said.
This statement comes amidst recent allegations against Foxconn regarding discrimination in the hiring of married women. The company had previously refuted these claims, stating that 25 percent of its new hires were married women and that the Tamil Nadu plant is the largest factory for women employment in India, with about 70 percent of the workforce being women.
Liu further noted, “Opportunities for women in India go hand-in-hand with health and safety for them at work. Having a sustainable living environment helps them succeed.”
Foxconn currently employs around 48,000 individuals in India, reflecting the company’s significant role in the country’s manufacturing and employment sectors.