IT and Industries Minister KT Rama Rao described the establishment of Foxconn Interconnect Technology’s (FIT) $500 million electronic manufacturing unit as a turning point in Telangana’s history and claimed that the state had targeted electronics manufacturing as a focus area with aspirations to become Shenzhen of India.
Rama Rao claimed that Telangana would help Shenzhen become the world’s centre for technology, research, manufacturing, and other activities in 20 years what China did in 30 years.
Rama Rao said Telangana was aiming to create 1.5 million jobs and a 150 billion dollar economy in the electronics manufacturing sector in the next 10 years, in addition to doubling its per capita income to $20,000 by 2040.
“We take ourselves seriously. We mean business, we mean progress and we are a forward looking State,” he said, listing out what differentiated Telangana from the rest.
Telangana’s speed too was a major factor, he said, recalling Foxconn Group Chairman Young Liu’s words earlier this year on how fast things moved in Telangana.
