Overview
The Government of India recently unveiled the list of recipients for the prestigious Padma Awards 2024 on January 25. Among the 132 distinguished awardees are Foxconn’s CEO and Chairman, Young Liu, who was recognized for his global leadership in business, with the esteemed Padma Bhushan.
Young Liu, the Chief Executive Officer and Chairman of Taiwan’s technology giant Foxconn is a distinguished entrepreneur and innovator boasting over four decades of industry experience. Foxconn has significantly expanded its presence in India over the past year, making substantial investments in manufacturing facilities in South India.
The Padma Awards, considered among the highest civilian honors in India, were announced on the eve of Republic Day. This year, the President approved 132 Padma awards across various fields, including art, social work, public affairs, science and engineering, trade and industry, medicine, literature and education, sports, and civil service.
India Taipei Association congratulates Chairman and CEO Mr Young Liu of Hon Hai Technology Group (Foxconn) on being conferred one of India’s highest civilian awards, Padma Bhushan, in the field of trade and industry. This is a testament to Foxconn’s success story in India and… pic.twitter.com/mXzYjncr5w
— India Taipei Association 印度台北協會 (@ita_taipei) January 26, 2024
Key Highlights about Young Liu
- Young Liu oversees Foxconn’s global operations, spanning over one million employees across 24 countries/regions, with revenues exceeding USD 206 billion in 2021.
- He founded 3 companies: Young Micro Systems (a motherboard company) in 1988, an IC design company in 1995 focused on the PC chipset, and ITeX in 1997.
- Foxconn, renowned for being Taiwan’s technological powerhouse and a leader in semiconductor manufacturing, assembles around 70% of iPhones globally and is the world’s largest contract manufacturer.
- In response to COVID-19 disruptions and geopolitical tensions, Foxconn has been diversifying its production away from China, with a strong focus on India.
Foxconn CEO Perspective on India
Last year, Young Liu expressed optimism about the opportunities created by reforms and policies in India, foreseeing the country as a pivotal player in the future of manufacturing. He emphasized that India would be a crucial hub for the development of the entire electronics manufacturing ecosystem.
Foxconn’s Investment in India
Globally renowned for manufacturing Apple iPhones, Foxconn has been steadily increasing its presence in India. An existing iPhone factory in Tamil Nadu, employing approximately 40,000 people, reflects Foxconn’s commitment to the Indian market. A recent announcement from a senior Foxconn official revealed plans to invest $1.6 billion in new projects in India.
Overview of Padma Awards
The Padma Awards, India’s second-highest civilian honors, are bestowed in three categories: Padma Vibhushan (for exceptional and distinguished service), Padma Bhushan (for distinguished service of a higher order), and Padma Shri (for distinguished service).
This recognition of Young Liu’s contributions underlines the growing importance of global leaders in the Indian manufacturing landscape. Further, it solidifies India’s position as a key player in the world economy.
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