Business
Footwear Giant Pou Chen Steps Into Tamil Nadu With Rs 23.02 Billion Investment, Set To Create 20,000 Jobs
- Tamil Nadu has made 45 per cent of India's footwear exports in the last five years, with several high-end brands, including Gucci and Giorgio Armani.
Pou Chen to set up its manufacturing plant in Tamil Nadu.
Taiwanese footwear maker Pou Chen, which produces shoes for global brands such as Nike, Adidas, New Balance, and Timberland, will invest Rs 23.02 billion in a new manufacturing facility in Tamil Nadu, reported Reuters.
This new facility is expected to create around 20,000 jobs in Tamil Nadu over the next 12 years.
The move comes after the company manufactured and shipped over 272 million pairs of shoes globally in the financial year 2022, up almost 14 per cent from the previous year.
In a meeting with Tamil Nadu Chief Minister M.K. Stalin, Pou Chen Vice President George Liu said: “We hope this would be the first of many investments to come (in India).”
Last year, Taiwanese peer Hong Fu Group signed a deal to invest Rs 10 billion to produce footwear in the southern state.
Tamil Nadu has been responsible for 45 per cent of India's footwear exports in the last five years, with several high-end brands, including Gucci and Giorgio Armani, sourcing raw materials from or producing their goods in the state, according to government agency report.
