The Central government has honored Young Liu, the CEO and Chairman of Taiwanese electronics manufacturing giant Foxconn Group, with the prestigious Padma Bhushan award. Liu is the sole foreigner among the 17 recipients of the Padma Bhushan in 2024. The award was bestowed upon him on the eve of India’s 75th Republic Day, making it a significant recognition.
In response to this achievement, the India Taipei Association expressed its congratulations to Chairman and CEO Young Liu for receiving one of India’s highest civilian awards. The association stated that this recognition serves as a testament to Foxconn’s success story in India and the country’s emergence as an electronics manufacturing hub.
Expressing his gratitude, Liu expressed feeling deeply honored by the award and extended his thanks to President Droupadi Murmu and Prime Minister Narendra Modi. He also pledged to continue collaborating for India’s long-term development.
Liu, a highly prominent entrepreneur with four decades of industry experience, took over as CEO of Foxconn in June 2019, succeeding Terry Gou. Under his leadership, the company began manufacturing iPhones in India, starting with the Wistron plant in Bengaluru, which has now been acquired by the Tata Group.
Notably, Foxconn is responsible for assembling 70% of iPhones worldwide. The company has significantly expanded its presence in India, particularly in the southern region, by making substantial investments in manufacturing facilities. This move comes as Foxconn diversifies its production from China due to geopolitical tensions between the two countries and the repercussions of the COVID-19 pandemic.
During his tenure, Liu has facilitated Foxconn’s involvement in India Semiconductor Mission, a program aimed at establishing a semiconductor ecosystem in the country. As part of this initiative, Foxconn is working on setting up an outsourced semiconductor assembly and test joint venture with HCL Group. The company plans to make an initial investment of $37.2 million in this venture.
Currently, Foxconn employs 40,000 people in India, and Liu has expressed plans to double the workforce this year. The company has achieved a turnover of $10 billion in India and has invested over $8 billion in the country thus far.
Liu’s professional journey encompasses several notable accomplishments. He holds an MS degree in Computer Engineering from the University of Southern California and a BS degree in Electrophysics from Taiwan’s National Chiao Tung University. In addition, he met Prime Minister Narendra Modi in July last year and attended the Semicon India conference in Gujarat.
The Padma Awards, granted by the President of India, are prestigious accolades conferred during ceremonial functions held at Rashtrapati Bhavan. For the year 2024, the President has approved the conferment of 132 Padma Awards, including 5 Padma Vibhushan, 17 Padma Bhushan, and 110 Padma Shri Awards. Among these recipients are 30 women, eight individuals from the category of Foreigners, NRI, PIO, and OCI, and nine posthumous awardees.
The Padma Vibhushan is awarded for exceptional and distinguished service, the Padma Bhushan for distinguished service of high order, and the Padma Shri for distinguished service in any field. These awards are traditionally announced every year on Republic Day, which commemorates the Indian Constitution’s enactment.
Young Liu’s recognition as a Padma Bhushan recipient underscores his significant contributions as a global business leader. This accomplishment further solidifies Foxconn’s position in India’s electronics manufacturing landscape while affirming India’s rise as a prominent player in the sector.
