Taiwanese multinational electronics contract manufacturer, Foxconn has crossed the USD 10 billion mark in its business operations in India through 2024. The statement was presented by Foxconn’s chairman Young Liu. The contract manufacturer has invested USD 1.4 billion to date in its Indian business. Recently, Foxconn has inaugurated a women-only residential complex. This move comes shortly after the company was embroiled in a controversy surrounding discriminatory practices being carried out against married women candidates. This move is a step in the right direction by the Taiwanese giant towards highlighting Foxconn's commitment to gender diversity and employee welfare.
Foxconn has so far invested USD 1.4 billion in India, signifying the company’s rising engagement in the region. Speaking to PTI at the inauguration of a women-only residential complex near Foxconn's plant, chairman Young Liu said, "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."
This marks chairman Young Liu’s maiden visit to India since receiving the prestigious Padma Bhushan. On the visit, he has spoken about Foxconn’s inclusive hiring practices. He also clarified that, women, especially married women, play an important role in the company’s operations.
Countering allegations of hiring discrimination, Foxconn has stated that women constitute 70% of its factory workforce. 25% of all new hires are married women.
The newly inaugurated women-only residential complex will house more than 18,000 women employees.
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