Foxconn arm to invest in TN for electronics components

The state of Tamil Nadu and Foxconn Industrial Internet (FII), a Foxconn subsidiary, signed a contract on Monday to establish a new facility for electronic components that will add 6,000 new employments, according to a statement from the state government. A campus will be built by FII with an investment of Rs 1,600 crore ($194.45 million) in the Kancheepuram neighborhood, close to Chennai. According to a source who spoke to Reuters earlier today, the building will be distinct from the enormous site where Foxconn now employs more than 35,000 people and where it currently assembles Apple's iPhones. On Monday morning, the state administration announced on LinkedIn that a big announcement was anticipated for the day, which would mean Tamil Nadu would maintain its top position as India's Electronics Powerhouse. The state government did not immediately respond to a request for comment.