Foxconn Officials Discuss 'Investment Opportunities' with Tamil Nadu Govt

A delegation comprising top officials of Foxconn Industrial Internet (FII), a subsidiary of Taiwan-based electronics giant Foxconn, met the Tamil Nadu chief minister MK Stalin on Wednesday and expressed interest to expand investments in the state.

Tamil Nadu chief minister M K Stalin held discussions with Foxconn CEO Brand Cheng regarding the future investments of the company in Tamil Nadu, the state government said, releasing an image of the meeting. State industries minister TRB Rajaa, chief secretary Shiv Das Meena, additional chief secretary for industries S Krishnan were also a part of the meeting.

Sources TOI spoke to said the talks were "very optimistic.The delegation is said to have discussed opportunities to expand the company's investments in the state, and the state authorities promised the best possible support and environment.

Noting that talks went beyond being just an exploratory meeting, another official said that the state's position as the top exporter of electronics manufacturers in the country works to its strengths. "The potential investment will add weight to the components manufacturing potential of the state," the official added.

The details of the proposed investment could not be ascertained. FII designs and manufactures communication network equipment, cloud service equipment, precision tools, and industrial robots, among others.

FII's meeting with Tamil Nadu authorities follows the company's officials meeting the Karnataka CM Siddaramaaih on Monday. Karnataka IT minister Priyank Kharge then tweeted that the Karnataka government is exploring potential collaboration with Foxconn Industrial Internet.

"The partnership holds tremendous promise for boosting industrial growth, creating huge employment opportunities & propelling Karnataka as a leader in the vertical," he said in the tweet.

In the telecommunication and networking equipment segment, Tamil Nadu already hosts Nokia Networks in Sriperumbudur that manufactures optical line terminals (OLTs) in Chennai and recently announced expansion of capacity. Cisco also recently announced plans to set up a networking equipment manufacturing facility in the state.

 

July 20, 2023