While informing about the Taiwanese contract manufacturing giant Foxconn, Tamil Nadu industries minister TRB Rajaa said that the company committed Rs 15,000 crore in investments, creating 14,000 high-value jobs, in a post on X (formerly Twitter) on Monday.
Foxconn Investing Big & Creating 14,000 High-value Jobs In Tamil Nadu
The world’s largest electronics contract manufacturer, Foxconn seems to be all set to invest around ₹15,000 crore in Tamil Nadu, helping create 14,000 high-value engineering jobs as part of its next phase of expansion in the state.
This holds a great importance as this new investment stands among the Taiwanese major’s largest commitments in India in recent years.
This initiative will mainly focus on artificial intelligence-led advanced technology operations, value-added manufacturing, and research and development integration.
The officials said that the investment will be spread across multiple locations.
In this regard, a delegation of top Foxconn executives met Chief Minister M K Stalin in Chennai on Monday, where the firm announced the establishment of India’s first-ever “Foxconn Desk” at Guidance Tamil Nadu, the state’s investment promotion agency.
A Major Boost
So far, this was the largest-ever engineering jobs commitment for the state and a ‘major boost’ for Tamil Nadu’s electronics and advanced manufacturing sector, said the industries minister.
Further adding, “Foxconn will bring its next phase of value-added manufacturing, R&D integration and AI-led advanced tech operations to Tamil Nadu.”
Rajaa said that Foxconn’s India representative Robert Wu had met with Tamil Nadu CM MK Stalin “to reaffirm their deep trust in Tamil Nadu with substantial investment commitments.”
Tamil Nadu’s investment promotion agency, Guidance, will be the first in India to set up a Foxconn Desk, Rajaa said.
Rajaa explained, “The first-ever Foxconn Desk in India will ensure seamless facilitation and mission-mode execution. We are setting the stage for Dravidian Model 2.0.”
Interestingly, this development came after Wu met Karnataka CM Siddaramaiah at his official residence, Kaveri, in Bengaluru last Sunday.
They have held discussions on strengthening Foxconn’s presence in Karnataka and exploring new avenues in manufacturing and technology collaboration during this meeting.
We already know that Foxconn has established operations in Tamil Nadu, Karnataka and Telangana.
