Karnataka government ‘disappointed’ over Foxconn’s refusal to enter into any binding agreement for investment in India


The BJP-led Karnataka government is “disappointed” over media reports about Foxconn’s statement denying any binding agreement for investment in India. Sources in the Ministry of Large and Medium Enterprises in Karnataka said they were “genuinely surprised by the development”.

“The entire team from Foxconn, a major assembler of Apple iPhones, was in Bengaluru. The MoU was signed by the team and the team also visited the landing site near Bengaluru International Airport and expressed their interest,” said sources.

On Saturday, Minister for Large and Medium Enterprises Murugesh Nirani shared photographs taken with Young Liu, CEO and Chairman of Foxconn, at the lounge of the Bengaluru International Airport. Nirani Vijay was on his way to Belagavi to participate in the Sankalp Yatra and Young Li Yu was waiting for a flight to Taiwan.

The ministry has remained tight-lipped on the development and is yet to make any official response. “The officers have been instructed not to make any statement to the media,” sources said.

Media reports claim that Taiwanese contract manufacturing giant Foxconn has said that it “has not entered into any binding, definitive agreements for new India investments” during its chairman’s visit. The company said that the talks and internal review are still on. “The published investment amount ratio is not an official statement from Foxconn.”

Earlier, Chief Minister Basavaraj Bommai had claimed that the MoU with Foxconn is a big boost to India’s Atmanirbhar Bharat ambitions and a testimony to Karnataka’s success in attracting investment to the state in the electronics manufacturing and assembly segment.

Chief Minister Bommai said, “Hone High Technology Group (Foxconn) has announced a major investment in Karnataka… 300 acres of land has been identified in Doddaballapura and Devanahalli taluks, near Bengaluru International Airport for this purpose ”

A team of Foxconn senior executives and 16 senior leaders, led by Chief Executive Officer and President Young Liu, were in Bengaluru on Friday. He was received at the airport by Minister for Higher Education, IT & BT, Science & Technology and Skill Development CN Ashwath Narayan.

The visit began with a visit to the world-class new Terminal 2, which was recently inaugurated by Prime Minister Narendra Modi, followed by a review by senior officials of Bengaluru Airport International Limited (BIAL) on the cargo infrastructure and facilities at the airport. Gave a detailed presentation. After this the team left to take stock of the proposed area.

The lunch meeting was headed by Minister for Large and Medium Enterprises Murugesh R. Nirani did. The team then held a meeting with Vandita Sharma, Chief Secretary, Government of Karnataka, at Vidhana Soudha.

The visit ended with a dinner hosted by Bommai. The chief minister and Liu discussed Foxconn’s investment plans and Bommai assured full support for the project.


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