Foxconn Not Going From Telangana: Sridhar Babu

Telangana IT and Industries Minister Duddilla Sridhar Babu today said that Taiwanese electronics contract manufacturing firm Foxconn was firmly established in Telangana and would not be leaving.

He condemned the opposition parties for their alleged unfounded assertions regarding the departure of companies, and said that such claims instilled fear and hindered the arrival of new businesses in Telangana.

He said that Foxconn was a significant entity in India, with its Indian headquarters in Bangalore and plans for investments in other States across India as well. The company aimed to make substantial additional investments in Telangana in the near future and would soon announce these investments, he added.

He also said that the government was committed to the advancement of the IT sector in the State, exports from which had already reached an impressive Rs 3 lakh crore. Both attracting international organizations and fostering startup companies was a crucial goal for the government, he said. He mentioned the global summit on artificial intelligence recently held in Hyderabad as an example of the government's efforts to put Hyderabad even more firmly on the IT map.

Since the IT sector was driven primarily by talent, he claimed that the government was upskilling talented youth from scheduled castes, scheduled tribes, backward classes and minority groups to facilitate their entry into the sector.