Renewable Energy and Tech Giants Fuel Tamil Nadu’s Economy with US$ 4.39B Investments - News

The Tamil Nadu State Government signed US$ 4.39 billion deals with Apple Inc suppliers Tata Electronics and Pegatron Corp, and Hyundai Motors Co. Apple’s January 7 announcement of key investments in India diversifies production away from China. 

Tata Group’s Tata Electronics invests INR 120.8 billion in mobile phone operations. MK Stalin, Chief Minister of Tamil Nadu, emphasized the State’s role in India’s growth and declared Government support. Pegatron, Apple’s Taiwan supplier, will invest INR 10 billion to increase output. Tata Power also considers INR 700 billion in State investments. A worldwide investor meeting revealed the pacts, which will produce many Tamil Nadu jobs.  

The State’s economic momentum aligns with Gujarat’s upcoming investment summit, and its electric vehicle manufacturing receives INR 61.80 billion from Hyundai Motors. VinFast, a Vietnamese EV company, pledged US$ 2 billion in Tamil Nadu the day before, boosting the region’s global attractiveness.