Corning Inc., a significant supplier to Apple and renowned for its Gorilla Glass technology, will invest ₹1,000 crore to set up a new manufacturing unit in Tamil Nadu, as per an Economic Times report citing sources.
The company will collaborate with its Indian partner, Optiemus Infracom, for the new facility. While no specific timeline has been committed, sources said, adding that they estimate the construction phase to last approximately a year.
Situated on a 25-acre plot in Pillaipakkam near Sriperumbudur, the facility will employ around 300 individuals and is strategically poised for potential expansion, the report added. The development comes as Apple announced plans to shift the majority manufacture of its iPhones to India. Corning joins a host of other Apple suppliers who have bolstered their presence in the country.
Previously, the Telangana government had announced Corning Inc.'s investment plans in the state; however, sources told the paper that the company shifted its unit to Tamil Nadu due to the latter's "robust electronics ecosystem and proximity to other Apple suppliers". Tamil Nadu already hosts major Apple contract manufacturers such as Foxconn, Pegatron, and Tata Electronics.
The decision was finalised last week, they added. A Memorandum of Understanding (MoU) is expected to be signed during the Global Investor Meet in January.
"While I choose not to delve into the specifics ... I can affirm that Tamil Nadu is diligently crafting an outstanding electronics ecosystem of international standards. Our strategic approach involves ascending the electronics value chain by enticing specialized manufacturers capable of catering to Original Equipment Manufacturers (OEMs). Attracting these niche players forms a crucial component of our targeted initiatives to position Tamil Nadu as a global leader in electronics manufacturing, contributing to India's emergence as a prominent electronics hub," Tamil Nadu Industries Minister TRB Rajaa told the paper.
Headquartered in New York, Corning Inc. is a Fortune 500 materials science company celebrated for inventing Gorilla Glass, a highly durable glass extensively used in mobile phones, tablets, and laptops.