Silver Prices Plunge in Asian Trade as Dollar Strength Triggers Fresh Precious Metals Sell-Off 
Baidu Approves $5 Billion Share Buyback and Plans First-Ever Dividend in 2026 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
SoftBank Shares Slide After Arm Earnings Miss Fuels Tech Stock Sell-Off 
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
Oracle Plans $45–$50 Billion Funding Push in 2026 to Expand Cloud and AI Infrastructure 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
SpaceX Pushes for Early Stock Index Inclusion Ahead of Potential Record-Breaking IPO 
Russian Stocks End Mixed as MOEX Index Closes Flat Amid Commodity Strength 
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment 
Sam Altman Reaffirms OpenAI’s Long-Term Commitment to NVIDIA Amid Chip Report 
Alphabet’s Massive AI Spending Surge Signals Confidence in Google’s Growth Engine 
Once Upon a Farm Raises Nearly $198 Million in IPO, Valued at Over $724 Million 
U.S. Stock Futures Slide as Tech Rout Deepens on Amazon Capex Shock 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Toyota’s Surprise CEO Change Signals Strategic Shift Amid Global Auto Turmoil 
Foxconn, Taiwan's electronics giant, is set to inject a $194.45 million investment into India's technology sector by building new electronic component factories in Tamil Nadu. This project, expected to generate over 6,000 jobs by 2024, aims to elevate the region's value chain in electronics.
The local government of Tamil Nadu confirmed on Monday, July 31, that it has agreed with Foxconn. The officials also shared the company's plan to invest Rs 1,600 crore, or about $194.45 million, to construct a campus in the Kancheepuram district.
According to Reuters, the new manufacturing facility is expected to generate at least 6,000 new jobs. A source from the government said the details of the deal between Foxconn Hon Hai (FHH) and Tamil Nadu are still confidential. The facility will not be part of Foxconn's campus near Chennai, where the company assembles Apple's iPhone units.
The cooperation aims to bring more high-value technology to Tamil Nadu through Foxconn. "Tamil Nadu wants to move up the value chain in electronics," a source stated. In any case, the target date for the completion of the factories is 2024.
The Indian state's minister for industries, Thalikottai Rasuthevar Baalu Rajaa, better known as Dr. T. R. B. Rajaa, also said that this project with the Taiwanese electronics company is a major achievement for Tamil Nadu.
"Tamil Nadu has continued to impress investors and it's nice to see companies that have already invested, re-investing in Tamil Nadu," CNBC TV18 quoted Rajaa. "That reinforces the faith they have in us, and that is more important to us than new people coming in."
Finally, Foxconn's chairman and president, Young Liu, further shared that the new facility will be India's biggest site. He added that they may even use the plant beyond production.
"We have more than 40,000 workers altogether as of today, so this is definitely an important base for us to grow on," Liu told the media after the announcement of the proposed Rs 1,600-crore investment. "With Tamil Nadu's talent pool, we can do not just production but Research and development (R&D) in Tamil Nadu."
Photo by: iphonedigital/Flickr (CC BY-SA 2.0)
