Padma Awards 2024: Young Liu of Foxconn to be conferred with Padma Bhushan

Young Liu, chairman of multinational electronics contract manufacturer Foxconn, has been declared as one of the Padma awardees this year. Liu will be honored by the President, along with three other business leaders, for their outstanding contributions at a ceremony scheduled for later this year. Sitaram Jindal from Karnataka will be awarded the Padma Bhushan, while Kalpana Morparia from Maharashtra and Shashi Soni from Karnataka will receive the Padma Shri.

In a post on X, formerly known as Twitter, Indian Prime Minister Narendra Modi congratulated the awardees, saying that India “cherishes their contribution across diverse sectors”.

Liu, a renowned global business leader and innovator, has successfully established three companies throughout his career. In 1988, he founded Young Micro Systems, a prominent motherboard company. In 1995, he ventured into the PC chipset industry by establishing a northbridge and southbridge IC design company. Additionally, in 1997, Liu founded ITeX, an ADSL IC design company under the brand ITE Tech.

According to the official website of the company, Liu is responsible for managing Foxconn's worldwide operations, which includes a workforce of over one million employees in 24 countries/regions and revenues that surpassed $206 billion in 2021.

Foxconn, which is known as the global manufacturer of Apple iPhones, has been increasing its presence in India. The company began manufacturing the Apple iPhone XR at its factory in India in 2019. By 2023, it had started producing iPhone 14s there.

The company currently operates a factory in Tamil Nadu, which employs approximately 40,000 individuals. A senior official from Foxconn recently announced their intention to invest $1.6 billion in new projects within India.

Liu visited New Delhi and had a meeting with PM Modi in March last year. A statement from Foxconn during that period stated the company's commitment to developing an ecosystem in India that fosters collaboration and growth for all stakeholders. Recently, the company announced its intention to establish a chip packaging and testing facility in India in partnership with HCL Group.