Foxconn, a renowned electronics contract manufacturer, has sealed a significant deal with the Indian state of Tamil Nadu. The agreement entails an investment of Rs. 1600 crore to establish an electronic component manufacturing facility in Kanchipuram district.
This ambitious venture is expected to create an impressive 6,000 job opportunities, a move that signifies Foxconn‘s continued commitment to bolstering India’s manufacturing sector.
The signing ceremony was graced by the presence of Hon’ble Chief Minister Mr. MK Stalin, highlighting the significance of this collaboration.
Tamil Nadu’s Minister for Industries, Mr. T R B Rajaa, expressed his delight at Foxconn’s repeated investments and expansions in the state, affirming Tamil Nadu’s position as a favored destination for major global companies.
Foxconn’s new facility, to be situated near Chennai but separate from the current sprawling campus where Apple iPhones are assembled, is expected to enhance Tamil Nadu’s position as a leading electronics exporter in India. The investment is likely to play a pivotal role in propelling the state towards achieving its ambitious goal of a One Trillion USD economy.
While specific details about the products to be manufactured at the new facility are yet to be disclosed, Foxconn’s diverse portfolio includes electronic devices, cloud service equipment, and industrial robots.
The alliance between Foxconn and Tamil Nadu marks a pivotal step in India’s electronics manufacturing landscape, boosting growth and jobs.