₹15,000 crore investment, 14,000 jobs! Tamil Nadu minister hails Foxconn deal — all you need to know

Tamil Nadu state minister for industries, TRB Rajaa, has hailed the state's “largest ever” number of engineering jobs, after electronics manufacturer Foxconn signed a ₹15,000 crore deal.

In a celebratory post, Rajaa hailed the state's commitment to create jobs, and announced that Foxconn has signed a ₹15,000 crore investment deal, which will also create 14,000 “high value jobs” for engineers in Tamil Nadu.

Foxconn-Tamil Nadu investment deal: What do we know?

• According to Rajaa, Foxconn will commit ₹15,000 crore in investments in Tamil Nadu, and create 14,000 high value jobs.
• “Foxconn will bring its next phase of value-added manufacturing, R&D integration and AI-led advanced tech operations to Tamil Nadu,” the minister said.
• He also hinted that the jobs could be majorly in the engineering space, giving a special call-out for engineers to “get ready”.
• He added that Tamil Nadu’s investment promotion agency @Guidance_TN will be the “first in India” to have a dedicated Foxconn Desk. The desk is expected to guide those interested in the opportunities.
• “The first-ever Foxconn Desk in India will ensure seamless facilitation and mission-mode execution,” he added.
• According to Rajaa, this deal is a “major boost” for Tamil Nadu's electronics and advanced manufacturing sector and it “sets the stage” for the Dravidian Model 2.0.
• Rajaa credited Chief Minister MK Stalin for meeting with Foxconn’s India Representative Robert Wu, “to reaffirm their deep trust in Tamil Nadu with substantial investment commitments”.

Tamil Nadu signs MoU with Japan's Nissan

On October 8, Rajaa also announced that the state has signed a Memorandum of Understanding (MoU) with Japan's Nissan to employ 100 youth, ANI reported.

Rajaa added that the state is actively working to connect talent with global opportunities. “In just two days, 5,550 meetings were conducted through the AIRDEFCON platform,” he said.

On industrial goals, Rajaa said Tamil Nadu is ambitions in the electric mobility sector and aims to take a leading role in EV manufacturing. “Discussions have been held with companies from Germany, Switzerland, Iceland, and Liechtenstein, potentially paving the way for several new industries to set up operations in the state,” he added.

Prior to this, on September 24, Reliance Consumer Products announced an investment of ₹1,156 crore to set up an integrated manufacturing facility at SIPCOT Allikulam Industrial Park in Tamil Nadu's Thoothukudi. The facility spanning 60 acres would generate 2,000 jobs in the next five years, as per Rajaa.