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Foxconn CEO Young Liu honoured with Padma Bhushan, in clear message to China

India is honouring Foxconn CEO Younger Liu with its third-highest civilian honour, the Padma Bhushan. Whereas Foxconn has made a number of investments within the nation, nearly to the tune of $1.6 billion, this felicitation will ship a powerful message to China

India has awarded its third highest civilian honour, the Padma Chushan to Taiwan’s Liu Younger-way, the Chief Government Officer of Foxconn, in a transfer that can ship a really robust message to the Communist Occasion of China.

The 66-year-old Liu is ready to obtain the accolade in a ceremony later this 12 months, with the presentation to be made by the President of India. The announcement of the 132 recipients throughout numerous Padma classes was made on the eve of India’s Republic Day.

This recognition comes amid Prime Minister Narendra Modi’s efforts to draw international investments and place India as the subsequent manufacturing hub in Asia. It aligns with the broader context of world initiatives to shift provide chains away from China, led by the US and its allies.

Liu Younger-way had beforehand visited New Delhi and held discussions with Prime Minister Modi in March. Foxconn, in an announcement, expressed its dedication to constructing an ecosystem in India, fostering collaboration and progress amongst stakeholders.

In a strategic transfer, Foxconn not too long ago revealed plans to determine a chip packaging and testing plant in India in collaboration with HCL Group, a neighborhood expertise agency. The corporate, a significant provider for Apple, had beforehand introduced investments totalling $1.6 billion in India in November, aiming to diversify its operations away from China.

In 2019, the corporate initiated the manufacturing of Apple’s iPhone XR at its manufacturing facility in India. Constructing on this milestone, by 2023, the identical facility had expanded its capabilities to incorporate the manufacturing of the newest iPhone mannequin, the iPhone 14.

Concurrently, India has actively inspired Taiwan Semiconductor Manufacturing Firm (TSMC), the island’s main semiconductor agency, to contemplate establishing a fabrication plant within the nation.

Unofficial ties between India and Taiwan have deepened, with commerce growing from simply over $1 billion in 2001 to $7 billion in 2021. Additional underscoring this development, a 3rd Taipei Financial and Cultural Centre, serving as a de facto consulate for Taiwan, was inaugurated in Mumbai final July.

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