Corning Inc. to invest ₹1,000 crore in Tamil Nadu facility
By MYBRANDBOOK
Apple supplier Corning, renowned for its Gorilla Glass technology, will reportedly invest ₹1,000 crore to set up a new manufacturing unit in Tamil Nadu. The company will collaborate with its Indian partner, Optiemus Infracom, for the new facility. The construction phase is estimated to last approximately a year. Situated on a 25-acre plot, the facility will employ around 300 individuals and is strategically poised for potential expansion.
It is reported that no specific timeline has been committed for the construction and it is estimated that the construction phase will last approximately a year.
Earlier, the Telangana government had announced that Corning is interested to invest in the state. However, as per source, the company shifted its unit to Tamil Nadu due to the latter's "robust electronics ecosystem and proximity to other Apple suppliers". Apple contract manufacturers like Foxconn, Pegatron, and Tata Electronics have their facilities in Tamil Nadu.
Last week, the decision was finalized and a Memorandum of Understanding (MoU) is expected to be signed during the Global Investor Meet in January.
"While I choose not to delve into the specifics ... I can affirm that Tamil Nadu is diligently crafting an outstanding electronics ecosystem of international standards. Our strategic approach involves ascending the electronics value chain by enticing specialized manufacturers capable of catering to Original Equipment Manufacturers (OEMs). Attracting these niche players forms a crucial component of our targeted initiatives to position Tamil Nadu as a global leader in electronics manufacturing, contributing to India's emergence as a prominent electronics hub," Tamil Nadu Industries Minister TRB Rajaa told a news source.
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
Paytm brings UPI Lite Wallet for low-value transactions
Paytm’s parent company One97 Communications (OCL) is emphasizing upon UP...
BHIM to join e-commerce, competing with PhonePe and Google Pay
The government-supported payment software BHIM is getting ready to join t...
Technology Icons Of India 2023: Sridhar Vembu
Sridhar Vembu is an Indian billionaire business magnate and the Founde...
Technology Icons Of India 2023: Ajit Balakrishnan
The Company markets specific channels, community features, local langu...
Technology Icons Of India 2023: Lt Gen (Dr.) Rajesh Pant (Retd.)
LT Gen(Dr.) Rajesh Panth (Retd.), National cyber security coordination...
GeM maintains transparency in online procurement of goods & services
Created in a record time of five months, Government eMarketplace is a ...
RailTel connecting every corner of India
RailTel is an ICT provider and one of the largest neutral telecom infr...
New defence PSUs will help India become self-reliant
MIL, India’s biggest manufacturer and market leader is engaged in Pr...
IVALUE INFOSOLUTIONS PVT. LTD.
: iValue Info Solutions is a value added distributor, provides solutio...
TECH DATA, A TD SYNNEX COMPANY
Tech Data Corporation was an American multinational distribution compa...
Crayon Software Experts India Pvt Ltd
Crayon helps its customers build the commercial and technical foundati...