Breaking News
1. Massive fire at Varanasi railway station parking, over 200 vehicles gutted      2. First Sambhal, Then Ajmer: Ex-CJI Chandrachud Under Fire For ‘Opening Floodgates’ Of Survey Pleas      3. Chennai Airport Shut, Trains Hit As Cyclone Fengal Intensifies      4. 2nd Hindu Priest Arrested In Bangladesh Amid Protests: ISKCON Member      5. Man climbs mobile tower in Kota, threatens suicide over his tractor seizure      6. Body of 2-year-old, his grandmother recovered from river in Manipur      7. Bodies of six abducted in Jiribam found; Kerala CM and UDF leaders argue over BJP defection      8. Several flights, trains disrupted as Delhi covered in smog, visibility down      9. Delhi air quality: AQI at this Delhi station above 1500      10. Pawan Kalyan condemns deaths of 2 Hindu girls in Pakistan who faced ‘atrocities’      11. India not to travel to Pakistan for Champions Trophy, wants its matches in Dubai      12. India not to travel to Pakistan for Champions Trophy, wants its matches in Dubai      13. Samosas, cakes meant for Himachal Pradesh CM Sukhu served to his security staff instead; CID probe on      14. We remain undeterred: Australian outlet on Canada's ban after Jaishankar presser      15. 'We Are Here Only As Pilgrims, Do Our Work & Leave': CJI DY Chandrachud Bids Farewell To Supreme Court      16. PM Narendra Modi slams NC-Cong's Article 370 resolution: 'Conspiracy against Kashmir'      17. IPL Auction: James Anderson registers for first time      18. Sharda Sinha dies: Huma Qureshi, Manoj Bajpayee, and others grieve singer's death      19. Man shot in gang war outside Raipur jail, sparks outrage over security lapses      20. After MK Stalin, Udhayanidhi warns Vijay, TVK: Only DMK will win in 2026     

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 Initiates Rs 1,000 Crore Smartphone Glass Factory in Tamil Nadu | Insight Behind the Decision Image Source -www.revenuesandprofits.com

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.

Author
No Image
Author
Arijit Dutta

You May Also Like