- Thursday, February 27, 2025
The proposed campus will come up at the state’s Kancheepuram district near capital Chennai.
By: Shubham Ghosh
TAIWANESE firm Foxconn has inked an agreement with the southern Indian state of Tamil Nadu to invest Rs 16 billion (£151.1 million) for setting up a new electronic components manufacturing facility to create 6,000 jobs, its government on Monday (31) said.
A source in the government led by chief minister MK Stalin told Reuters on the condition of anonymity that the facility will be for Foxconn Industrial Internet (FII) — a Foxconn unit — with the proposed campus set to come up at the Kancheepuram district near state capital Chennai.
The new facility will be separate from Foxconn’s current campus near Chennai where it assembles Apple’s iPhones and employs over 35,000 people, the source added.
TRB Rajaa, the minister for industries of Tamil Nadu, called the development “a major achievement for the state” in a statement, after Foxconn chairman Young Liu and other representatives met with officials of the state, including Stalin.
? Big news and a proud moment for #TamilNadu!
Today, in the presence of Hon’ble @CMOTamilnadu Thiru @MKStalin avargal, M/s. Hon Hai Technology Group (#FOXCONN) signed a Letter of Intent with @Guidance_TN to set up a new mobile components manufacturing facility at a cost of Rs.… pic.twitter.com/eIf0QyIbi7
— Minister for Industries, GoTN, India (@TNIndMin) July 31, 2023
It was also posted from the X account of the minister for industries, Tamil Nadu, that the Taiwanese firm signed a letter of intent with Guidance Tamil Nadu, a nodal agency that draws investments to the state.
Stalin said in an X post, “Was delighted to meet the Foxconn Group Chairman Mr.Young Liu and his team. Various investment opportunities in Tamil Nadu were discussed. Investment commitment to establish a mobile component manufacturing facility in Kancheepuram district for Rs. 1600 crore with a potential employment for 6000 persons was signed in my presence. We also discussed further investments in EV and electronic components. Another milestone in our ambition to make TN the new emerging electronics manufacturing hub of Asia!”
Was delighted to meet the Foxconn Group Chairman Mr.Young Liu and his team. Various investment opportunities in Tamil Nadu were discussed. Investment commitment to establish a mobile component manufacturing facility in Kancheepuram district for Rs. 1600 crore with a potential… https://t.co/QhP0UI86od
— M.K.Stalin (@mkstalin) July 31, 2023
Liu has been in India to take part in the Narendra Modi government’s three-day semiconductor conference SemiconIndia that concluded on Sunday (30).
Last week, Reuters reported that the Foxconn subsidiary was in talks with the southern state about the investment, with the Taiwanese major aiming to complete the plant next year.
FII makes electronic devices, cloud service equipment and industrial robots. It was, however, not immediately known if the new plant would manufacture components for iPhones or other companies or both, the Reuters report added.
Last year, Reuters reported about Foxconn planning to quadruple its workforce at its iPhone factory in the southern Indian state by late next year with the goal of spreading its bets beyond China’s shores.
