Chennai: The state government has approved an investment proposal by Foxconn to assemble premium brand smart phones at Sriperumbudur near here. This and many other developments that are happening are due to the vibrant industrial policy, Chief Minister Edappadi K. Palaniswami has said.
The industrial policy which also triggered the growth of electronics and other industries has facilitated Tamil Nadu to emerge as second largest State economy in India, contributing 8.4 percent to India's GDP, the Chief Minister said while inaugurating the second edition of the Global Investors Meet (GIM) at the Trade Centre here on Wednesday.
“I would like to share with you that our Government has approved an investment proposal by Foxconn to assemble premium brand smart phones at Sriperumbudur. Tamil Nadu has ensured consistent investments in infrastructure. Investments in the electricity sector, by our revered leader Puratchi Thalaivi Amma ensured that the state which had a huge power deficit in 2011, became a power surplus State,” Mr Palaniswami said. Foxconn is reportedly looking towards Tamil Nadu as a possible base for assembling the high-end iPhone models and media reports claimed the Taiwanese contract manufacturer is serious about expanding its Indian facilities. At present, the company assembles smartphones for firms like Xiaomi in the country.
The state Cabinet which met with the Chief Minister in the chair in December 2018 had given its nod to Foxconn unit in Sriperumbudur to commence manufacturing various iPhone models. Electricity minister P. Thangamani who had held the industries portfolio had managed to persuade Foxconn management not to migrate out of the state....