Foxconn has invested  billion in India so far: Chairman Young Liu – StartupNews.fyi

Foxconn has invested $10 billion in India so far: Chairman Young Liu – StartupNews.fyi

SUMMARY

Liu said India is on the rise and the OEM wants to be part of the country’s growth story.

In response to allegations of discrimination against married women at its plant in Tamil Nadu, Liu said the company hires employees regardless of gender.

During his trip to India, the Foxconn chairman has so far met Prime Minister Narendra Modi as well as chief ministers and state ministers of Tamil Nadu, Karnataka and Telangana.

Foxconn Chairman Young Liu said the Taiwanese electronics maker has invested $10 billion in India so far and plans to infuse even more capital into the country in the coming year.

“Until last year, we had already achieved $10 billion in sales. Next year, we will do much more,” Liu told news agency PTI.

Speaking on the sidelines of the inauguration of a women-only residential complex near its plant in Sriperumbudur, Tamil Nadu, Liu said India is on the rise. He said the original equipment manufacturer (OEM) wants to be part of the country’s growth story.

According to the report, the complex will provide accommodation to more than 18,000 women employees of the corporation on room-sharing basis. The project, built by the State Industries Promotion Corporation of Tamil Nadu (SIPCOT), is spread over 20 acres and has been constructed at a cost of INR 706 Cr.

In response to allegations of discrimination against married women at its plant in Tamil Nadu, Liu said the company hires employees regardless of gender.

“Foxconn hires regardless of gender, but women make up a large part of our workforce here. I would like to emphasize that married women make a great contribution to our efforts here,” the Foxconn chairman reportedly added.

Liu’s comments come two months after a news report alleged that the Apple supplier was pursuing discriminatory hiring practices and excluding married women from jobs at its iPhone assembly plant in Sriperumbudur.

At the time, a former senior executive at the company stated that Foxconn “generally refrained” from hiring married women because of alleged “cultural problems” and societal pressure.

The iPhone maker had denied the report, claiming that 25 percent of the newly hired employees were married women. Foxconn further claimed that around 70 percent of the employees at the Foxconn factory were women.

It is important to note that Foxconn currently employs around 48,000 people in India.

The developments come at a time when Liu is currently on a multi-leg tour of India. On the eve of Independence Day, he met Prime Minister Narendra Modi and discussed Foxconn’s investments in Tamil Nadu, Karnataka and Telangana.

He also met with the Chief Ministers and Cabinet Ministers of these three states.

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