India: Foxconn inks MoU for $1.69bn investment in Tamil Nadu

Taiwanese firm Foxconn, the world's largest contract manufacturer specializing in electronic gadgets, has inked a Memorandum of Understanding(MoU) for investing ₹15,000 crore(approx $1.69bn) in the Southern Indian state of Tamil Nadu. According to the Tamil Nadu Government, a delegation led by Mr. Robert Wu, India Representative and senior global executive of Foxconn, met with the Chief Minister MK Stalin and Industries Minister TRB Rajaa, in Chennai.

The meeting marks a new milestone in Foxconn’s strategic engagement with the State,

reaffirming Tamil Nadu’s position as a global hub for high-value manufacturing, exports, and

engineering innovation, said the government. During the meeting, Foxconn announced an investment commitment of ₹15,000 crore in Tamil Nadu, accelerating emerging tech manufacturing, strengthening the relationship between Foxconn and Tamil Nadu. This has the potential to create14,000 jobs, with a special focus on engineering graduates and skilled youth, signalling Foxconn’s shift towards

value-added manufacturing, R&D integration, and technology-led operations in the state.

Speaking on the occasion, Mr. Robert Wu expressed Foxconn’s confidence in Tamil Nadu’s

governance model, proactive industrial policies, and the skilled talent pool. He noted that Tamil Nadu’s infrastructure readiness, ease of doing business reforms, and future-focused policy leadership make it a preferred destination for Foxconn’s next phase of growth in India, including strategic verticals such as

battery technologies and AI-led manufacturing systems.

Chief Minister Stalin welcomed Foxconn’s continued expansion and assured full support through the State's Industries department's single-window investment facilitation mechanism, talent development partnerships, and dedicated executive coordination through the new Foxconn Desk at Guidance, which is the state's Investment promotion and facilitation entity.

He reiterated the Government’s commitment to positioning Tamil Nadu as a global electronics and advanced manufacturing powerhouse, deeply integrated into international value chains. According to Stephen Hsu, Director General of the Taipei Economic and Cultural Center(TECC) in the Southern Indian city of Chennai, the longstanding India-Taiwan partnership includes close cooperation in trade, investment, technology, education and culture.

He emphasised that India-Taiwan trade has touched $10.6 billion in 2024, and that it has doubled from what it was during the year 2016. He said that there are more than 300 Taiwanese businesses presently operating in India and that the number of firms have tripled over the last eight years. This year, as India and Taiwan mark the 30th year of the bilateral relationship, Stephen said that it is a significant milestone. On bilateral trade volume in the ongoing year, he said that it is expected to hit a new high, as it has grown by 15% as of August 2025, when compared to the same period last year

Taiwan plays an irreplaceable role in the globally supply chain, with the country producing 70% of the world's semiconductor chips, and 95% of advanced chips which derive the tech revolution.

The southern Indian state of Tamil Nadu is home to the leading cluster of Taiwanese organisations in India. Electronics manufacturing, footwear production, semiconductors, renewable energy, advanced manufacturing and skilled workforce mobility are the major domains where India and Taiwan are collaborating on.

In recent years, Tamil Nadu has inked over 21 MoUs with Taiwanese firms across sectors. Notably, the Foxconn factory that rolls out Apple iPhones from Tamil Nadu plays a substantial role in the state's electronics exports, which amounts to 41% of India's total electronic exports.