Foxconn Industrial Internet (FII) is expanding its investments beyond China and has commenced an investment initiative in India. As part of this endeavor, the Taiwanese company has signed a significant deal with Tamil Nadu, committing to invest 1,600 INR-Cr in establishing a new electronic components manufacturing facility in the state.
Last week, Foxconn Industrial Internet (FII) CEO Brand Cheng and several company representatives held a meeting with Tamil Nadu Chief Minister MK Stalin and other government officials to discuss investment opportunities in the southern state.
During the meeting, FII presented a plan to invest an initial amount ranging from $180 million to $200 million in the proposed facility, which will be situated in the Kancheepuram district, close to the state capital, Chennai. The project is expected to create around 6,000 job opportunities for the local workforce.
Also Read: Foxconn to invest 4,100 INR-Cr in two factories in India
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