After meeting with Prime Minister Narendra Modi in Gujarat a little over a month ago, Hon Hai Technology Group (Foxconn) chairman & CEO Young Liu backed India's production standards once more and declared that the nation is poised to become the "new manufacturing centre in the world," with the supplier ecosystem likely to develop more quickly than it did in China.
Liu said that Foxconn will expand its operations in India as business grows on higher consumer purchases. “Foxconn continues to expand its presence in India in response to customer needs,” the chairman said in a statement in Taiwan as he outlined the company’s plans for growth in India.
Liu predicted that India will "become a new manufacturing centre" for the world if there aren't enough reforms made there. In addition, he stated that India's supply chain ecosystem, which took more than 30 years to develop in China, is expected to do so much more quickly now that the country's electronics industry is seeing such rapid growth.