CHENNAI: Karnataka Ministers MB Patil and MB Patil held a meeting with iPhone maker Foxconn chairman Young Liu about intended projects for which the company is keen to invest in the state of Karnataka turned out to be fruitful.
Speaking about the meeting MB Patil said, “The industrial and investment policies of the state government are conducive to nurturing an ecosystem favouring the growth of industries.”
Patil added that the talks held with the company chairman were fruitful.
iPhone assembler Foxconn has plans to set up another supplementary plant in Karnataka.
Chief Minister Siddaramaiah chaired a meeting with the Foxconn Industrial Internet CEO Brand Cheng and other delegates in mid-July.
As per the proposal, Foxconn Industrial Internet (Fii), a subsidiary of Foxconn, proposes to invest Rs 8,800 crore, the release said, adding this would create 14,000 jobs and the land required for the project is about 100 acres.
On Monday, Hon Hai Technology Group (or Foxconn) signed a Letter of Intent to set up a new mobile components manufacturing facility at a cost of Rs 1,600 crore in Kanchipuram district in the presence of Tamil Nadu Chief Minister MK Stalin on Monday.
Giving this information, Tamil Nadu Industries Minister TRB Rajaa said in a tweet that the project has the potential to generate 6,000 jobs. The Industries Minister said, “Foxconn’s repeated investments and expansion plans in Tamil Nadu are a testament to the state being the top choice for manufacturing in India for major companies across the world.”
“This is a major achievement for the state. Manufacturers who have seen immense success in Tamil Nadu over the past many years know that by investing more in the state they will only gain more. This also illustrates the trust global investors have in the leadership of Chief Minister of Tamil Nadu MK Stalin,” said Rajaa.
“With this proposed investment, and many more to come, Tamil Nadu is poised to not only remain the top electronics exporter in the country, but also significantly increase its electronics exports in the coming years. This will play a critical role in attaining our Honourable Chief Minister Thiru MK
Stalin’s ambition of one trillion USD economy in Tamil Nadu,” said Rajaa. (ANI)