Key Points
India's southern state of Tamil Nadu has signed investment pacts worth more than $4.39 billion with firms such as Apple suppliers Tata Electronics and Pegatron, as well as auto major Hyundai Motors, it said on Sunday.n...
Apple is counting on India as the next big driver of its growth as the tech giant looks to diversify some production away from China, with Pegatron working towards a second factory in the country where Tata Group last year began to assemble iPhones..
Tata Electronics, a part of the Indian conglomerate, committed to invest 120.8 billion rupees for mobile phone assembly operations, the state government said during the signing of the agreements..
Separately, Tata Power is exploring investments up to 700 billion rupees in Tamil Nadu over the next several years,including investments made in some existing projects, its chief executive officer and managing director Praveer Sinha said at a press briefing at the event. ..
Nike shoemaker Hong Fu is set to sign a pact with the state to invest nearly 10.4 billion rupees in India, with another 16.6 billion rupees expected soon, Aqeel Panaruna, chairman of Florenece Shoe - the company's India partner - said at the event. ..
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