BRS scrambles to save face after Foxconn denies signing investment agreement
1 year, 9 months ago

BRS scrambles to save face after Foxconn denies signing investment agreement

Deccan Chronicle  

HYDERABAD: A statement from Taiwanese major Foxconn on Saturday, denying it had “binding, definitive” agreements to invest in India, left the ruling Bharat Rashtra Samithi scrambling to save face, three days after it had claimed that the firm would set up a Hyderabad unit and generate 1 lakh jobs over 10 years. Foxconn issued the statement in response to announcements by the Telangana and Karnataka governments, claiming that agreements had been signed during Foxconn CEO Young Liu’s visit to India over the past week. During the visit, Liu met Chief Minister K. Chandrashekar Rao at Pragathi Bhavan along with a delegation of company officials on Friday. Following the meeting, the Chief Minister’s Office also issued a press release, which stated: “Chief Minister of Telangana K. Chandrashekar Rao along with Foxconn chairman Mr Young Liu announced setting up of electronic manufacturing facilities in Hyderabad.

History of this topic

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1 year, 9 months ago
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1 year, 9 months ago

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