Foxconn denies ₹15,000cr investment in Tamil Nadu
What's the story
Foxconn, the Taiwanese electronics giant, has refuted claims of a major investment in Tamil Nadu. The company's denial comes after State Industries Minister TRB Rajaa announced on social media that Foxconn had committed to investing ₹15,000 crore and creating 14,000 jobs in the state. In an official statement, Foxconn clarified that its newly appointed India Representative, Robert Wu, had met with the Tamil Nadu Chief Minister's Office, but no new investments were discussed during this meeting.
Minister's response
Minister Rajaa stands by statement, accuses critics of politicizing issue
Despite Foxconn's clarification, Minister Rajaa remained adamant about the company's investment in Tamil Nadu. He said, "It is 100% true," responding to PMK leader Dr. Anbumani Ramadoss, who had called the news "false." The minister accused some people of politicizing job opportunities for Tamil Nadu's youth due to political bias and defended his statement by emphasizing the difficulty of securing investments in today's global political climate.
Project details
Foxconn's next phase of manufacturing to include R&D integration
Along with the announcement of a dedicated "Foxconn Desk" at Guidance Tamil Nadu to expedite project clearances, Rajaa also revealed that Foxconn's next phase of value-added manufacturing in the state would include R&D integration and AI-driven advanced technology operations. However, Foxconn's statement did not clarify if any prior investment commitments in Tamil Nadu were still on track. The Tamil Nadu government has yet to respond separately to Foxconn's statement.