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Tata electronics new MoU: It’s raining investments: Pegatron, Tata Electronics, others ink pacts worth over Rs 30,000 cr with Tamil Nadu Govt

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Tata Electronics is reportedly to sign a Memorandum of Understanding (MoU) worth a whopping Rs 12,082 crore with Tamil Nadu Government for mobile phone assembly operations.

The MoU was signed at Tamil Nadu Global Investors Meet 2024 in Chennai which was inaugurated by state’s Chief Minister M. K. Stalin and Union Minister Piyush Goyal on Sunday.

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Speaking at the summit, CM Stalin has said that it is raining investments in the state. JSW Renewable, TVS Group and Mitsubishi Electric have inked pacts worth Rs 12,000 crore, Rs 5,000 crore and Rs 6,180 crore respectively.

Further, Apple’s Taiwan supplier, Pegatron, will be investing up to Rs 1,000 crore to expand production.

According to reports, Tata Electronics is planning to invest Rs 7,000 crore for expansion of its Hosur plant which will be made over a six-year period.

Earlier this week, ET reported that Vietnamese EV maker VinFast will set up its first manufacturing facilities in Thoothukudi, near Chennai with an initial capital expenditure of up to $200 million.

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In November 2023, the Tata Group had signed a binding share purchase agreement with SMS InfoComm (Singapore) and Wistron Hong Kong Limited to acquire 100% equity stake in Wistron Infocomm Manufacturing (India), enabling the Tata Group to officially join the Apple supply chain as an iPhone assembler.As the tech giant, Apple, looks to shift some production away from China, it is counting on India as the next big growth engine. Pegatron is working towards a second factory in the subcontinent, where Tata Group started assembling iPhones last year.

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Tata Electronics is reportedly to sign a Memorandum of Understanding (MoU) worth a whopping Rs 12,082 crore with Tamil Nadu Government for mobile phone assembly operations.

The MoU was signed at Tamil Nadu Global Investors Meet 2024 in Chennai which was inaugurated by state’s Chief Minister M. K. Stalin and Union Minister Piyush Goyal on Sunday.

Elevate Your Tech Prowess with High-Value Skill Courses

Offering College Course Website
Indian School of Business ISB Professional Certificate in Product Management Visit
Indian School of Business ISB Digital Transformation Visit
Indian School of Business ISB Product Management Visit

Speaking at the summit, CM Stalin has said that it is raining investments in the state. JSW Renewable, TVS Group and Mitsubishi Electric have inked pacts worth Rs 12,000 crore, Rs 5,000 crore and Rs 6,180 crore respectively.

Further, Apple’s Taiwan supplier, Pegatron, will be investing up to Rs 1,000 crore to expand production.

According to reports, Tata Electronics is planning to invest Rs 7,000 crore for expansion of its Hosur plant which will be made over a six-year period.

Earlier this week, ET reported that Vietnamese EV maker VinFast will set up its first manufacturing facilities in Thoothukudi, near Chennai with an initial capital expenditure of up to $200 million.

Discover the stories of your interest


In November 2023, the Tata Group had signed a binding share purchase agreement with SMS InfoComm (Singapore) and Wistron Hong Kong Limited to acquire 100% equity stake in Wistron Infocomm Manufacturing (India), enabling the Tata Group to officially join the Apple supply chain as an iPhone assembler.As the tech giant, Apple, looks to shift some production away from China, it is counting on India as the next big growth engine. Pegatron is working towards a second factory in the subcontinent, where Tata Group started assembling iPhones last year.

Stay on top of technology and startup news that matters. Subscribe to our daily newsletter for the latest and must-read tech news, delivered straight to your inbox.

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