Foxconn to invest Rs 1,600 crore in mobile component manufacturing plant in Tamil Nadu
Semiconductor giant Foxconn has announced its decision to establish a mobile component manufacturing facility in Tamil Nadu’s Kanchipuram district with an investment of Rs 1,600 crore.
The state’s Minister for Industries, Dr TRB Rajaa, praised the investment, emphasizing Tamil Nadu’s appeal as a top choice for manufacturing in India for major global companies. The project is expected to create around 6,000 job opportunities and is scheduled to be completed by 2024.
Foxconn’s commitment to expanding its presence in Tamil Nadu highlights the state’s success as an electronics exporter and its attractiveness to investors.
The move aligns with Tamil Nadu’s ambition to become a $1 trillion economy, and the state aims to further enhance its electronics exports with the addition of this significant manufacturing venture. The establishment of the mobile component facility marks a major achievement for Tamil Nadu’s manufacturing sector and reinforces investor confidence in the state’s leadership.