The Central authorities on Thursday awarded the celebrated Padma Bhushan to Taiwanese electronics manufacturing big Foxconn Group’s CEO and Chairman Young Liu, making him the one foreigner within the listing of 17 Padma Bhushan recipients in 2024. Liu was conferred with the Padma Bhushan, the third-highest civilian award, on the eve of India’s seventy fifth Republic Day.
“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 India’s emergence as an electronics manufacturing hub,” the India Taipei Association mentioned in an announcement.
Liu mentioned he was “deeply honoured” by the honour and thanked President Droupadi Murmu and Prime Minister Narendra Modi, promising to proceed collaboration for India’s long-term growth.
Foxconn’s influence in India
Liu, 66, is a extremely distinguished entrepreneur with 4 a long time of business expertise. After he took over as CEO of Foxconn succeeding Terry Gou in June 2019, the corporate began making iPhones in India. Apple began making iPhones on the Wistron plant in Bengaluru which has now been acquired by Tata Group.
The Foxconn chairman has an MS diploma in Computer Engineering from the University of Southern California and a BS diploma in Electrophysics from Taiwan’s National Chiao Tung University. He met Prime Minister Narendra Modi in July final 12 months and attended the Semicon India convention in Gujarat.Â
The Taiwan-based firm assembles 70% of iPhones on the earth and has quickly expanded its presence in India, significantly within the south, by investing closely in manufacturing amenities. Foxconn has been diversifying manufacturing from China within the wake of geopolitical tensions between the 2 international locations and the aftermath of the COVID-19 pandemic.
Under Liu’s management, Foxconn has joined India Semiconductor Mission by way of which the nation is aspiring to arrange a semiconductor ecosystem within the nation. Foxconn is within the technique of establishing an outsourced semiconductor meeting and take a look at three way partnership with HCL Group and can make an preliminary funding of $37.2 million within the enterprise.
Liu’s firm employs 40,000 individuals and has plans to double its workforce this 12 months. Additionally, Foxconn has a turnover of $10 billion in India and has invested over $8 billion within the nation to this point. Liu has based three firms all through his profession which features a motherboard firm, Young Micro Systems in 1988, a northbridge and southbridge semiconductor design firm centered on the PC chipset, ITE Tech in 1995 and an ADSL IC design firm, ITeX in 1997.
Padma awards for 2024
These Awards are conferred by the President of India at ceremonial capabilities that are held at Rashtrapati Bhawan often round March or April yearly. For the 12 months 2024, the President has authorized conferment of 132 Padma Awards together with 2 duo circumstances (in a duo case, the Award is counted as one) as per the listing under.
‘Padma Vibhushan’ is awarded for distinctive and distinguished service; ‘Padma Bhushan’ for distinguished service of excessive order and ‘Padma Shri’ for distinguished service in any subject. The awards are introduced on the event of Republic Day yearly.
The listing includes 5 Padma Vibhushan, 17 Padma Bhushan and 110 Padma Shri Awards. 30 of the awardees are ladies and the listing additionally consists of 8 individuals from the class of Foreigners, NRI, PIO, OCI and 9 Posthumous awardees.
(with inputs from businesses)
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