Foxconn’s Journey in India: Expanding Horizons in North Bangalore

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Introduction
Foxconn, the world-renowned Taiwanese electronics manufacturer, has been making significant strides in India, particularly in North Bangalore. Known for its extensive global footprint, Foxconn has chosen Bangalore as a key location for its expansion, aiming to tap into the burgeoning Indian market and leverage the region’s strategic advantages.
Foxconn’s Entry into India

Foxconn entered the Indian market with a vision to establish a robust manufacturing base. The company’s initial foray began with the establishment of a facility in Tamil Nadu, where it started producing older versions of iPhones1. This move marked the beginning of Foxconn’s journey in India, setting the stage for future expansion.
Expansion in North Bangalore

In recent years, Foxconn has set its sights on North Bangalore, a region known for its thriving IT industry and excellent infrastructure2. The company acquired a massive 300-acre plot near the Kempegowda International Airport in Devanahalli, signaling its commitment to the region3. This new facility is expected to create around 50,000 jobs, providing a significant boost to the local economy

Global Market Share and Influence

Foxconn is a global leader in electronics manufacturing, producing a substantial portion of the world’s consumer electronics4. The company’s factories are responsible for manufacturing approximately 40% of all consumer electronics sold worldwide4. This impressive market share underscores Foxconn’s influence and expertise in the industry.

Long-Term Vision in Bangalore
Foxconn’s long-term vision for Bangalore is ambitious and forward-thinking. The company plans to invest $1.5 billion in expanding its operations in India, aiming to double its workforce and enhance its manufacturing capabilities5. The focus is on creating a sustainable and competitive manufacturing hub that can cater to both domestic and international markets.

Foxconn’s Global Workforce and Expansion in India
Foxconn, the world-renowned Taiwanese electronics manufacturer, employs a massive global workforce of over 1.3 million employees1. The company aims to double its workforce in India by 2024, increasing it from 70,000 to 140,000 employees2. This expansion is part of Foxconn’s broader strategy to diversify its manufacturing base and reduce reliance on China.

Share Price Insights
Foxconn Technology Co Ltd (2354) is listed on the Taiwan Stock Exchange and has a current share price of TWD 66.33. The company’s share price has seen fluctuations, with a 52-week high of TWD 78.4 and a low of TWD 48.83. The company’s market cap stands at approximately TWD 93.78 billion3.

Conclusion
The convergence of excellent connectivity, superior infrastructure, a serene environment, and promising investment potential makes North Bangalore a highly attractive destination for real estate buyers. As the region continues to develop, it is poised to become one of Bangalore’s prime residential and commercial hotspots. Foxconn’s expansion in North Bangalore further underscores the region’s potential and the company’s strategic vision.

Prasath Devarajan

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