Foxconn denies commiting Rs 15,000 cr fresh investment in Tamil Nadu after minister TRB Rajaa's claim
Chennai: Taiwanese electronics manufacturing giant Foxconn has contradicted the Tamil Nadu government’s claim of committing an additional Rs 15,000 crore investment in the state, media reports said.
The clarification came on Tuesday, after the Tamil Nadu government confirmed on Monday that the tech giant will invest Rs 15,000 crore in the southern Indian state, expecting to generate 14,000 jobs.
In a statement given to The Times of India, Foxconn confirmed that its India representative, Robert Wu, had a meeting with Chief Minister MK Stalin and other officials on Monday, but "no new investments were discussed", according to the statement issued to The Times of India.
Tamil Nadu Industries Minister TRB Rajaa had claimed on X that Foxconn has committed an investment of Rs 15,000 crore, which would generate 4,000 high-value jobs.
In a post on X, the minister had stated, "Foxconn will bring its next phase of value-added manufacturing, R&D integration, and AI-led advanced tech operations to Tamil Nadu. The first-ever Foxconn Desk in India will ensure seamless facilitation and mission-mode execution."
After the meeting, Tamil Nadu Chief Minister MK Stalin thanked the company for “choosing Tamil Nadu” and contributing to the state's bright future in a post on X.
While he did not mention any additional investment was committed, he had reposted Guidance Tamil Nadu's post claiming that Foxconn is going to make a “game-changing” investment in the state.
'Guidance' is the Government of Tamil Nadu's nodal agency for pushing investment in the state and allowing a single window facilitation.
"This marks another milestone in our journey to make Tamil Nadu the manufacturing and innovation hub of South Asia," Stalin's post added.
Foxconn has several projects underway in the country. Recently, the Central government sanctioned a Rs 3,700 crore semiconductor plant to be developed by HCL and Foxconn through a joint venture in Uttar Pradesh.
In August, Foxconn’s Bengaluru factory, its second-largest unit in the world, started manufacturing iPhone 17 at a small scale.
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