SFS Company to Establish Mobile Components Manufacturing Unit in Belagavi, Boosting Local Economy | Special June-2023

In a significant development for the state of Karnataka, SFS Company, a renowned mobile components manufacturer that supplies spare parts to Foxconn sets up the plant at Belagavi

In a significant development for the region’s industrial landscape, Foxconn, the renowned Taiwanese mobile components manufacturer, has expressed its interest in setting up a new plant in Belagavi. Following a successful deal inked with the previous Karnataka government, Foxconn’s decision to expand its operations to Belagavi reinforces the state’s position as a leading hub for manufacturing high-quality electronic devices.

The Chief Financial Officer of SFS Company, Mr. Faras Shah, along with a delegation, recently met with Mr. MB Patil, the current Minister of Commerce and Industry, Government of Karnataka, to discuss their plans for establishing a state-of-the-art manufacturing unit. SFS Company, known for manufacturing spare parts for Apple iPhones, is ready to invest a staggering Rs 250 crore in this ambitious venture.

The proposed unit by SFS Company in Belagavi is set to occupy 30 acres of land, a request was made to the Karnataka government.

Under the tenure of the previous govt, the Karnataka government signed a historic deal with Foxconn, securing a 300-acre factory in Bengaluru to manufacture Apple iPhones. This monumental agreement showcased the state’s commitment to fostering technological advancements and its potential to emerge as a global manufacturing powerhouse.

Upon hearing about Foxconn’s interest in setting up a new plant in Belagavi, Then Chief Minister Basavaraj Bommai, in a recent tweet, expressed his satisfaction, stating, “Delighted to see the expansion of Foxconn in Karnataka. This is a testament to our state’s business-friendly policies and infrastructure. Thank you to Chairman Young Liu and the previous government for laying the foundation for this remarkable investment.”

With the baton now passed to the current government, the new minister and his administration are determined to continue the state’s trajectory of economic growth and job creation. The government has assured SFS Company and Foxconn of their unwavering support, promising to review the matter promptly and take appropriate decisions to expedite the establishment of the Belagavi unit.

The arrival of the Foxconn SFS Company plant in Belagavi is expected to have a transformative impact on the local economy. The establishment of this cutting-edge facility will not only create numerous job opportunities but also attract ancillary businesses and foster a culture of innovation in the region.

Belagavi, with its strategic location and favorable investment climate, is poised to become a major manufacturing hub for high-tech industries. The commitment shown by the previous government has paved the way for the current government to build on those foundations and realize the full potential of the region.

As the state government prepares to move ahead with the land allocation process, the people of Belagavi eagerly anticipate the positive economic impact and opportunities that Foxconn’s presence will bring to their city. With the support of both the previous and current governments, the expansion of Foxconn to Belagavi marks a significant milestone in the region’s journey toward industrial excellence and showcases Karnataka’s proactive approach to attracting global investments.

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