Why Foxconn CEO Young Liu Has Been Honoured With Padma Bhushan

The Chief Executive Officer and Chairman of Taiwanese technology giant Foxconn, Young Liu, has been honoured with the Padma Bhushan.

Young Liu is a recognized entrepreneur and an innovator with over four decades of industry experience.

He has founded three companies-- a motherboard company in 1988 known as Young Micro Systems; an IC design company in 1995 focused on the PC chipset and an ITE Tech company, ITeX in 1997.

The Taiwan-based company, which assembles around 70% of iPhones and is the world's largest contract manufacturer, has been diversifying production away from China following COVID-19 disruptions and geopolitical tensions.

It has rapidly expanded its presence in India over the past year by investing heavily in manufacturing facilities in the south India.

Last year, Young Liu had said that reforms and policies in India have created huge opportunities for the development of the entire electronics manufacturing ecosystem. "India will be a very important country in terms of manufacturing in the future," Mr Liu had said.

Padma awards, one of the highest civilian honours in India, were announced on the eve of Republic Day.

This year, the President approved 132 Padma awards in various fields of activities, viz.- art, social work, public affairs, science and engineering, trade and industry, medicine, literature and education, sports, civil service, etc.

The awards are announced on the occasion of Republic Day every year and the ceremony will be held in Rashtrapati Bhavan.