Corning Inc Initiates Rs 1,000 Crore Smartphone Glass Factory in Tamil Nadu | Insight Behind the Decision
- Posted on December 12, 2023
- Business
- By Arijit Dutta
- 226 Views
Corning Inc, the key supplier to Apple, plans a Rs 1,000 crore smartphone glass factory in Tamil Nadu, shifting from an earlier plan in Telangana. This move, alongside Optiemus Infracom, aims to create employment and boost smartphone manufacturing, leveraging Tamil Nadu's proximity to key suppliers.
Corning Inc, a prominent Apple supplier, will establish a cutting-edge smartphone glass
facility worth Rs 1,000 crore in Tamil Nadu, departing from its initial intent
in Telangana. The shift marks a strategic collaboration with Optiemus Infracom,
a domestic electronics manufacturer.
In an unexpected turn, the government change in Telangana redirected Corning Inc.'s investment strategy, favoring Tamil Nadu for its newest venture. This decision comes despite an earlier declaration by the former state government led by K. Chandrashekar Rao, announcing Corning's choice of Telangana for Gorilla Glass manufacturing.
The
proposed facility in Telangana aimed to generate employment for over 800
individuals, as affirmed by K.T. Rama Rao, the former state IT and Industries
Minister. However, discussions with Corning Inc's top executives, including
John Bayne and Ravi Kumar, pointed towards a shift in plans favoring Tamil
Nadu.
Notably, the Economic Times report revealed Corning's intent to establish the facility in Pillaipakkam Village within Sriperumbudur block, Kanchipuram district, Tamil Nadu. This strategic location aligns with the proximity to crucial Apple suppliers like Pegatron and Foxconn, influencing Corning's choice.
Also Read: Telangana DGP Anjani Kumar's Suspension Revoked: Election Commission Decision
The
memorandum of understanding (MoU) between Corning and Tamil Nadu is slated for
signing during the Global Investor Meet in January 2023. Moreover, a joint
venture between Optiemus Infracom and Corning, named Bharat Innovation Glass
(BIG) Technologies, will produce high-quality finished cover glass parts for
electronic devices.
This
partnership aims to manufacture 30 million pieces in the initial phase and
expand employment opportunities to over 500 individuals in India. Ashok Kumar
Gupta, Chairman of Optiemus, expressed commitment to delivering top-notch
products and emerging as a leading manufacturer in the global mobile
electronics market.