Hon Hai Precision Industry Co., the world's largest contract electronics maker, announced Tuesday evening a 10-year investment plan in India. In a news conference held in New Delhi, Terry Gou, chairman of Hon Hai, which is also known as Foxconn Technology Group outside Taiwan, said that the future investments in the South Asian country will not be limited to product assembly.

Instead, Gou said that Hon Hai is expected to bring a supply chain to India in an effort to carry out a long-term strategic investment project in the country.

Gou said in the news conference that he has been encouraged by Modi's "Made in India" initiative as well as the country's ambitions to build a "Digital India", a "Skill India" and a "Clean India." The Taiwanese entrepreneur said that when he met with Modi, he suggested that India push for "High-Tech India" and "Export India" policies.

Gou told the Indian news media that Hon Hai has to come to India and it has to move as fast as possible.