Foxconn Moves Forward With Smartphone Display Module Assembly As Tamil Nadu Approves Rs 13,000 Crore Investment Plan

A subsidiary of Foxconn, Yuzhan Technology (India) is set to invest in Tamil Nadu as the M K Stalin-led cabinet approved an investment of Rs 13,180 crore. The investment is anticipated to create 14,000 jobs.

This marks a significant step, as Foxconn plans to establish a smartphone display module assembly unit in the state, becoming the first such facility in India that will cater to Apple, Economics Times reported.

Earlier, reports indicated that Foxconn was considering a $1 billion investment for this project. The company has secured around 500,000 square feet of space at the ESR Oragadam Industrial & Logistics Park near Chennai, adjacent to its smartphone assembly facility.

This investment is the largest among 14 projects cleared by the Tamil Nadu cabinet. The combined value of these projects totals Rs 38,698.80 crore and is expected to generate nearly 46,931 jobs across the state.

Other major investments include Rs 9,000 crore from Tata Motors for the production of Jaguar Land Rover vehicles in Ranipet, Rs 10,375 crore from Leap Green Energy Pvt Ltd in southern districts such as Thoothukudi and Tirunelveli, and Rs 1,000 crore from Freetrend Industrial India in Ariyalur.

Investments also span various industries, including renewable energy, e-vehicles, luxury car manufacturing, defense equipment, medical devices, and more.