Hyderabad: Telangana Chief Minister Revanth Reddy invited Foxconn to invest in the Fourth City, a promising venture being constructed near Hyderabad, on Friday, and he assured the corporation of his full support.
In New Delhi, CM Revanth Reddy met with Foxconn Chairman Young Liu, who gave him the go-ahead to establish their factories in the Fourth City and promised full cooperation, including the required permissions and incentives.
The Fourth City will concentrate on diversified growth in sectors including education, life sciences, medicine, sports, electronics, electrical industries, and skill development, according to CM Reddy, who explained the phased development of three cities in Hyderabad.
The Chief Minister’s Office (CMO) reports that CM Reddy emphasised the founding of the Young India Skill University, a crucial element of the Fourth City initiative situated outside of Hyderabad.
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According to CM Reddy, prominent industrialists contributed to the syllabus’s creation in order to supply the knowledge and personnel needed to give young people the skills they need to succeed in the modern workforce.
CM Reddy extensively reviewed Hyderabad’s many benefits, including the Regional Ring Road, Outer Ring Road, and International Airport, for the Foxconn team.
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The Chief Minister emphasised Hyderabad’s uninterrupted industrial growth over the years, citing specific examples such as the establishment of major industrial parks, the growth of the IT sector, and the city’s resilience during economic downturns, despite shifts in political leadership.
State IT and Industries Minister D Sridhar Babu also updated Liu on specific government pro-industry policies, incentives, and foreign partnerships targeted at promoting industrial development. These include tax incentives for new businesses, streamlined approval processes, and strategic partnerships with global industry leaders.
According to the chairman of Foxconn, Hyderabad’s potential for growth across all industries, including the industrial and service sectors, is enormous and promising.
Liu commended CM Reddy’s visionary approach and said that Foxconn was eager to explore investment opportunities in Hyderabad.
He announced plans for an initial visit by a team led by Chief Campus Operations Officer Kathy Yang and India representative V Lee, with a follow-up visit by Liu himself.
Liu said he was very impressed by CM Reddy’s vision and pro-industrial policies in designing the Fourth City.
The CMO also noted that some senior representatives from Foxconn and the Telangana government attended the meeting, marking the beginning of a potentially significant collaboration for Hyderabad’s industrial growth.
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–IANS
