Taiwan’s Pegatron Corporation and Tata Electronics will invest in Tamilnadu to manufacture mobile phones and parts.
Due to the Corona epidemic and the business dispute between the US and China, many global companies are looking for an alternative to China. In such a situation, India is becoming an increasingly attractive option. In this series, Taiwan’s Pegatron Corporation and Tata Electronics will invest in Tamilnadu to manufacture mobile phones and its parts. The investment of the two companies will be different i.e. that Pegatron Corporation will invest in the state through its next entity and Tata Electronics through its next entity. The Government of Tamil Nadu has given this information.
According to the information, Tata Electronics will invest 5753 crore rupees ($ 79 million) in the state to make mobile phone components. Taiwanese company Pegatron Corporation will invest Rs 1100 crore to manufacture mobile phones. Pegatron’s PhaseWise will invest and it will be a Phase I investment.
India is becoming attractive to global companies
India is becoming attractive to global phone assembling companies who want to reduce their dependence on China. Apart from this, due to the Corona epidemic and the ongoing business dispute between the US and China, most phone assembling companies are trying to reduce their dependence on China. Its link is becoming attractive in India. In October 2020, the Government of India approved 16 companies under the Production Linked Incentive (PLI) program.
Ola Electric will also invest in the state
Apart from Pegatron Corporation and Tata Electronics, other companies are also investing in Tamil Nadu state. According to the information, Sun Edison will invest Rs 4629 crore in the state and will build solar PV modules. Another company Ola Electric will manufacture electric vehicles and batteries with an investment of 2354 crores in the state