Foxconn to invest $1.5bn for plant in TN

Foxconn Electronics, a Foxconn Technology group company, will invest $1.5 billion over the next three years in setting up a manufacturing unit in Tamil Nadu.

The facility will manufacture connectors, accessory parts for mobile phones as well as computer hardware, said Thomas Chang, director, Taipei World Trade Centre Liaison Office in India at an interactive meet organised by the Indian Chamber of Commerce (ICC).

Taiwanese FDI in India so far was $500 million, said Chang.

While 30% of Taiwanese companies in India are joint ventures with an Indian partner, the rest are Indian subsidiaries of Taiwanese companies. Foxconn would operate through its wholly-owned Indian subsidiary, said Chang.