Foxconn to invest ₹1600 crore in Tamil Nadu, India | Business News

Foxconn, a business that mostly produces in China, has been making significant investments in India for some time. According to a contract the business has with the Tamil Nadu government, it will invest Rs 1,600 crore in the region. In the Tamil Nadu district of Kanchipuram, the business plans to establish a manufacturing facility for mobile components. About 6,000 people in the state could find jobs as a result of this transaction.

Foreign Investment in India Increases

It is important to note that following Corona, tension has risen in China, the United States, and other European nations. In order to lessen their reliance on China for the production of electronics, several businesses are going to India in this situation. As a result, the nation's electronic manufacturing industry is expanding. Additionally, the federal and state governments are attempting to entice businesses by offering them incentives. This will lead to the creation of new employment possibilities in India in the future.