Tata Group to set up a new phone component manufacturing plant in Tamil Nadu
Tata Group is investing Rs 5,000 crore to set up a phone component manufacturing plant in Tamil Nadu’s Hosur under a new company that has been named Tata Electronics.
Tata Electronics has been allotted 500 acres by Tamil Nadu Industrial Development Corporation and that group firm Titan Co Ltd’s precision engineering division will provide expertise for this project.
The Tata Group is reportedly availing the recently unveiled PLI (productivity-linked incentive) scheme of the Modi government aimed at turning India to a global electronics manufacturing powerhouse.
In March, the union cabinet had approved a production-linked incentive (PLI) scheme worth Rs. 40,995 crore to boost electronics manufacturing in the country, with incentives being linked to sales and capital investment.
The project brings along a huge employment generation capacity as by October 2021, the facility will have a staff strength of 18,000 people. The company has decided that 90 per cent of this staff size will be women.
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