Manufacturing giant Hon Hai Precision Industry Co (鴻海精密) on Thursday said that the company has obtained a commitment from Tamil Nadu to fully support its investments in the southern Indian state.
Hon Hai, the flagship company of Foxconn Technology Group (富士康科技集團), said company chairman Young Liu (劉揚偉) on Thursday received a delegation from Tamil Nadu, led by S. Krishnan, additional chief secretary of the Tamil Nadu Industries Department, at the company’s headquarters in New Taipei City’s Tucheng District (土城).
In a statement, Hon Hai said the Indian delegation expressed its gratitude to the company for its investment in the Indian state, and pledged to continue its support for more investments by the firm.
Photo: AFP
Guidance Tamil Nadu, the investment promotion agency of the government of Tamil Nadu, wrote on Twitter that the delegation “elaborately discussed Foxconn’s plans for new ventures and investments, especially in emerging sectors and proffered Government’s complete support to the company in the State.”
Hon Hai, an assembler of Apple iPhones, said that the company has had a foothold in Tamil Nadu for more than a decade.
Early this month, Apple Inc announced that Hon Hai’s production sites in Tamil Nadu have been named part of the US tech giant’s supplier list for fiscal 2021, along with the iPhone assembler’s other complexes in China’s Guangdong, Henan, Hubei, Jiangsu, Shaanxi, Sichuan and Zhejiang provinces, Brazil’s Amazonas and Sao Paulo, the US states of California and Texas, and Vietnam’s Bac Giang Province.
Indian news media reported late last month that Apple, which accounts for more than 40 percent of Hon Hai’s total sales, confirmed that the assembler would start to roll out the iPhone 14s at its plant in Tamil Nadu. Hon Hai assembled earlier versions of the iPhone in the Indian state, the reports said.
The Tamil Nadu delegation arrived in Taiwan on Tuesday. They held a roundtable forum on investment on Wednesday with the Taiwan Technical Textiles Association and the Taiwan Electrical and Electronic Manufacturers’ Association.
Before leaving Taiwan tomorrow, the delegation is to visit Taiwanese electronics, electrical engineering, textile, footwear and computer numerical control device suppliers to forge closer industrial cooperation
During the Double Ten National Day celebration held by the Republic of China’s Chennai representative office on Oct. 6, Krishnan said Taiwan is one of the top five foreign investors in Tamil Nadu along with the US, Japan, South Korea and Singapore.
The Chennai office said that 25 Taiwanese companies have invested in Tamil Nadu, with their combined investments topping US$2 billion (US$62 million).
JITTERS: Nexperia has a 20 percent market share for chips powering simpler features such as window controls, and changing supply chains could take years European carmakers are looking into ways to scratch components made with parts from China, spooked by deepening geopolitical spats playing out through chipmaker Nexperia BV and Beijing’s export controls on rare earths. To protect operations from trade ructions, several automakers are pushing major suppliers to find permanent alternatives to Chinese semiconductors, people familiar with the matter said. The industry is considering broader changes to its supply chain to adapt to shifting geopolitics, Europe’s main suppliers lobby CLEPA head Matthias Zink said. “We had some indications already — questions like: ‘How can you supply me without this dependency on China?’” Zink, who also
At least US$50 million for the freedom of an Emirati sheikh: That is the king’s ransom paid two weeks ago to militants linked to al-Qaeda who are pushing to topple the Malian government and impose Islamic law. Alongside a crippling fuel blockade, the Group for the Support of Islam and Muslims (JNIM) has made kidnapping wealthy foreigners for a ransom a pillar of its strategy of “economic jihad.” Its goal: Oust the junta, which has struggled to contain Mali’s decade-long insurgency since taking power following back-to-back coups in 2020 and 2021, by scaring away investors and paralyzing the west African country’s economy.
BUST FEARS: While a KMT legislator asked if an AI bubble could affect Taiwan, the DGBAS minister said the sector appears on track to continue growing The local property market has cooled down moderately following a series of credit control measures designed to contain speculation, the central bank said yesterday, while remaining tight-lipped about potential rule relaxations. Lawmakers in a meeting of the legislature’s Finance Committee voiced concerns to central bank officials that the credit control measures have adversely affected the government’s tax income and small and medium-sized property developers, with limited positive effects. Housing prices have been climbing since 2016, even when the central bank imposed its first set of control measures in 2020, Chinese Nationalist Party (KMT) Legislator Lo Ting-wei (羅廷瑋) said. “Since the second half of
RE100 INITIATIVE: Exporters need sufficient supplies of renewable energy to meet their global commitments and remain competitive, the economics ministry said Local export-oriented manufacturers, including Taiwan Semiconductor Manufacturing Co (台積電), require sufficient supplies of green energy to maintain their competitiveness and regulations already ensure that renewable energy development adheres to environmental protection principles, the Ministry of Economic Affairs said yesterday, as the legislature imposed further restrictions on solar panel installations. The opposition-led Legislative Yuan yesterday passed third readings to proposed amendments to three acts — the Environmental Impact Assessment Act (環境影響評估法), the Act for the Development of Tourism (發展觀光條例) and the Geology Act (地質法) — which would largely prohibit the construction of solar panels in some areas. The amendments stipulate that ground-mounted solar
RSS