Foxconn Group Invests US$ 400 Million in Telangana - News

Foxconn Group, a prominent technology manufacturer, has announced an additional investment of US$ 400 million in Telangana. Kongara Kalan in Telangana has been chosen as the site for its plant. The move is set to enhance the company's presence in the region, further solidifying its commitment to India's tech landscape. 
Lu Sung-Ching, Board Chairman, FIT Hon Teng Ltd revealed a voluntary announcement of the company's plans. The Board sanctioned a US$ 500 million capital injection into Foxconn Interconnect Technology, Singapore. Additionally, a US$ 400 million capital infusion to Chang Yi Interconnect Technology (India) Pvt Ltd was also approved.
According to KT Rama Rao, Minister for Information Technology, Electronics & Communications (IT, E&C), Government of Telangana, the government’s friendship with Foxconn Group remains steadfast and honour each other’s mutual commitments. With total infusement of US$ 550 million (adding previous US $150), FIT is poised to deliver on its promises in Telangana. 
Foxconn's strategic move not only propels its own growth but also contributes to India's journey towards becoming a global technology hub.