Foxconn's "biggest site in India" may have a role that goes beyond production, according to the group's chairman, Young Liu.

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"We have more than 40,000 workers altogether as of today, so this is definitely an important base for us to grow on," said Liu while speaking to the media in Chennai, following the Taiwanese electronics major's Rs 1,600-crore investment proposal in Tamil Nadu.

"With Tamil Nadu's talent pool, we can do not just production but Research and development (R&D) in Tamil Nadu," Liu added.

On Monday, Foxconn inked an MOU with the Tamil Nadu Government. The company will invest Rs 1,600 towards opening an electronics component plant in Kanchipuram, outside Chennai, with the plan of employing 6,000.

"We have many developments in our production sites — we have six or seven buildings under construction," Liu said, "I'm happy to see that it's going well and we've got a lot of support from the government."

Tamil Nadu and Foxconn have had a long investor relationship. The company presently manufactures iPhones from one of its plants just outside Chennai, with an employee strength of 35,000. The state's industries department has said re-investment by an existing investor is a sign of its healthy business environment.

"Tamil Nadu has continued to impress investors and it's nice to see companies that have already invested, re-investing in Tamil Nadu," said TRB Rajaa, minister of industries and investment promotion.

"That reinforces the faith they have in us, and that is more important to us than new people coming in."

First Published:Jul 31, 2023 7:33 PM IST