Foxconn Contradicts Minister's Claim Of Rs 15,000-Crore Investment In Tamil Nadu
A day earlier, Tamil Nadu Industries Minister TRB Rajaa had claimed on X that Foxconn has committed an investment of Rs 15,000 crore, which will lead to the generation of 14,000 high-value jobs.
Electronics Giant Hon Hai Technology Group, prominently known as Foxconn, denied on Tuesday claims of committing Rs 15,000 crore of additional investment in Tamil Nadu.
The Taiwanese semiconductor giant, in a statement issued to an Indian publication, said its India representative Robert Wu had a meeting with Chief Minister MK Stalin and other officials on Monday. During the meeting, however, "no new investments were discussed", according to the statement issued to the Times of India.
A day earlier, Tamil Nadu Industries Minister TRB Rajaa had claimed on social media platform X that Foxconn has committed an investment of Rs 15,000 crore, which will lead to the generation of 14,000 high-value jobs.
In a post on X the minister had stated, "Foxconn will bring its next phase of value-added manufacturing, R&D integration and AI-led advanced tech operations to Tamil Nadu. The first-ever Foxconn Desk in India will ensure seamless facilitation and mission-mode execution."
Following the meet, Tamil Nadu CM MK Stalin thanked the electronics giant for "choosing Tamil Nadu" and shaping the future with the state in a post on X. While, he himself did not state that any investment was promised, he had reposted Guidance Tamil Nadu's post claiming that Foxconn is set to make a "game-changing" investment in the state.
'Guidance' is the Government of Tamil Nadu's nodal agency for investment promotion and single window facilitation.
"This marks another milestone in our journey to make Tamil Nadu the manufacturing and innovation hub of South Asia", Stalin's post added.
Confirmed Ventures
Earlier, the central government had approved a Rs 3,700-crore semiconductor unit, which will be developed by HCL Group and Foxconn through a joint venture in Uttar Pradesh.
In August, Foxconn's Bengaluru factory, its second largest manufacturing unit globally, commenced operation with production of iPhone 17 at a small scale.
