Tamil Nadu: Foxconn to set up unit to manufacture mobile components - Hindustan Times

ByDivya Chandrababu

Aug 01, 2023 12:44 AM IST

A team led by Foxconn group chairman Young Liu met Tamil Nadu chief minister M K Stalin in the secretariat in Chennai on Monday following which a ‘letter of intent’ was signed for the deal

Chennai: Tamil Nadu government clinched a deal on Monday with Taiwanese major Foxconn (Hon Hai Technology Group) to set up a facility to manufacture mobile components at a cost of ₹1600 crore in Kanchipuram district near Chennai, officials aware of the matter said.

The new project is expected to generate 6000 jobs (PTI)

A team led by Foxconn group chairman Young Liu met Tamil Nadu chief minister M K Stalin in the secretariat in Chennai on Monday following which a ‘letter of intent’ was signed for the deal. The new project is expected to generate 6000 jobs.

“Various investment opportunities in Tamil Nadu were discussed,” Stalin said. “Investment commitment to establish a mobile component manufacturing facility in Kancheepuram district for ₹1600 crore with a potential employment for 6000 persons was signed in my presence. We also discussed further investments in EV (electric vehicles) and electronic components. Another milestone in our ambition to make TN the new emerging electronics manufacturing hub of Asia.”

Foxconn has an existing facility in Sriperumbudur where the company assembles Apple’s iPhones for domestic and international markets. “Foxconn’s repeated investments and expansion plans in Tamil Nadu are a testament to the state being the top choice for manufacturing in India for major companies across the world,” said minister for industries TRB Rajaa. “This is a major achievement for the state.” The proposed investment, along with more to come, will ensure that Tamil Nadu is poised to remain at the top in electronics export in the country while also significantly increasing its electronics export, he added.

Tamil Nadu had risen to the top spot as the exporter of electronic goods for the 2022-2023 financial year, according to the National Import-Export for Yearly Analysis of Trade (NIRYAT). The state had nearly tripled in a year at $5.37 billion from $1.86 billion in the previous year. Tamil Nadu has accounted for a share of 22.8 % of India’s exports valued at $ 23.57 billion.

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• ABOUT THE AUTHOR

  

  Divya Chandrababu

  Divya Chandrababu is an award-winning political and human rights journalist based in Chennai, India. Divya is presently Assistant Editor of the Hindustan Times where she covers Tamil Nadu & Puducherry. She started her career as a broadcast journalist at NDTV-Hindu where she anchored and wrote prime time news bulletins. Later, she covered politics, development, mental health, child and disability rights for The Times of India. Divya has been a journalism fellow for several programs including the Asia Journalism Fellowship at Singapore and the KAS Media Asia- The Caravan for narrative journalism. Divya has a master's in politics and international studies from the University of Warwick, UK. As an independent journalist Divya has written for Indian and foreign publications on domestic and international affairs.

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