Foxconn says Rs 15,000-cr investment in TN not ‘new’ as state hails ‘milestone’
Company representative clarifies ‘no new investments were discussed’; state officials say it is the first time they are officially announcing the plan
Taiwanese electronics major Foxconn has clarified that its Rs 15,000-crore investment in Tamil Nadu, announced by the state on Monday (October 13), is not a “new” commitment, even as Tamil Nadu officials hailed the announcement as a landmark for the state’s manufacturing sector.
In a statement on Tuesday (October 14), Foxconn India’s newly appointed representative, Robert Wu, said “no new investments were discussed” during his meeting with Chief Minister MK Stalin and his team.
Announcement for the ‘first time’
However, The New Indian Express quoted sources in the Tamil Nadu Industries Department as saying that the investment was part of the discussions. “Foxconn may not see it as a ‘new’ investment, but this is the first time we are announcing it,” an official was quoted as saying. The media statement issued on Monday, the report added, had been cleared and approved by the company.
The investment aligns with a state cabinet-approved Rs 13,180-crore plan from Yuzhan Technology, a Foxconn Group entity, to manufacture mobile phones at a 500,000 sq ft facility in the ESR Oragadam Industrial and Logistics Park in Kancheepuram. Officials have not confirmed whether this is the same project referenced in Monday’s announcement.
Also read: Foxconn to invest ₹15,000 crore, create 14,000 high-value jobs in TN
14,000 new jobs expected
Foxconn’s expansion is expected to generate 14,000 high-value engineering jobs, focusing on value-added manufacturing, R&D integration, and AI-enabled advanced technology operations. As part of the plan, Guidance Tamil Nadu, the state’s investment promotion agency, will host the country’s first dedicated “Foxconn Desk” to facilitate rapid project execution — a point not disputed by Foxconn.
Welcoming the announcement on X, Chief Minister Stalin has emphasised the state’s commitment to talent development and seamless facilitation. “This is the Dravidian Model in action… another milestone in our journey to make Tamil Nadu the manufacturing and innovation hub of South Asia,” he said.
Industries Minister TRB Rajaa has highlighted the role of the Foxconn Desk in ensuring “mission-mode execution” for the state’s high-tech manufacturing ambitions.