Who is Foxconn CEO Young Liu and why he has been honoured with Padma Bhushan

In a remarkable recognition of his outstanding contributions to the technology industry, Young Liu, the Chief Executive Officer and Chairman of Foxconn, the Taiwanese multinational electronics contract manufacturer, has been bestowed with the prestigious Padma Bhushan award.

Young Liu, a seasoned entrepreneur and innovator, boasts an impressive career spanning over four decades. His entrepreneurial journey began in 1988 when he founded Young Micro Systems, a motherboard company. Subsequently, in 1995, he ventured into the realm of IC design, focusing on PC chipsets. In 1997, Liu established ITE Tech, known as ITeX, marking the third successful venture in his illustrious career.

“I am deeply honoured to receive the Padma Bhushan from the Government of India. My heartfelt thanks to the Prime Minister, President and the wonderful people of India for this tremendous distinction. I firmly believe this is an affirmation of a collaboration that benefits India’s long-term development and supports the growth of local economies. I will continue to inspire my team. Let’s do our part for manufacturing in India and for the betterment of society,” he said on being conferred the prestigious award.

Foxconn, headquartered in Taiwan, stands as the world's largest contract manufacturer, responsible for assembling approximately 70% of iPhones. The company has strategically diversified its production away from China in response to disruptions caused by the COVID-19 pandemic and escalating geopolitical tensions.

Over the past year, Foxconn has made significant investments in expanding its footprint in India, particularly in the southern regions. This expansion is part of the company's broader strategy to reduce dependence on Chinese manufacturing and tap into the growing opportunities offered by the Indian market.

Young Liu has been an advocate for India's potential in the electronics manufacturing sector. In a statement last year, he expressed optimism about the future, stating, "India will be a very important country in terms of manufacturing in the future," highlighting the significant role that the country is poised to play in the global manufacturing landscape.

The Padma Bhushan award, announced on the eve of Republic Day, is one of the highest civilian honours in India. This year, the President approved 132 Padma awards across various fields, including art, social work, public affairs, science and engineering, trade and industry, medicine, literature and education, sports, and civil service. The awards ceremony will be held at Rashtrapati Bhavan, marking a momentous occasion to celebrate the achievements and contributions of individuals across diverse sectors.