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India rated as best alternative option for companies planning to relocate out of China

India rated as best alternative option for companies planning to relocate out of China
February 12, 2021
India’s major advantage, the report says, is its strong logistics system - The Hindu×
Foreign companies taking advantage of PLI scheme to expand their operations
India, along with Vietnam, is rated as the best alternative options for companies which are planning to relocate their operations out of China, says a survey by Agility Logistics, a global logistics player. The US-China trade war first made companies, especially those in the US, to sit up and consider the possibility of de-risking their operations by reducing their dependence on China when it comes to sourcing. When the Covid-19 pandemic struck China and caused supply-chain disruption, their mind was made. ....

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Tamil Nadu set to become Apple products manufacturing hub | Chennai News

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CHENNAI: Tamil Nadu is all set to become the new hub for manufacturing Apple products for the global market. The state cabinet, which met on Friday evening, cleared 34 industrial projects entailing investments of Rs 52,257 crore that includes component manufacturers for Apple such as Tata Electronics, Pegatron Corporation, Taiwan, and Luxshare of Taiwan. The investments will result in creating employment for around 94,000 people in the state.
“With Tamil Nadu already hosting manufacturing facilities of Foxconn and Salcomp, the clearances for investments from Tata Electronics, Pegatron and Luxshare will ensure that the entire ecosystem of manufacturing Apple products will be housed in Tamil Nadu,” a senior state government official told TOI. The cabinet also approved the New Industrial Policy of Tamil Nadu, which will be unveiled in February. ....

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₹52,257-cr. investment proposals cleared

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Cabinet approves Tamil Nadu Industrial Policy 2021
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Cabinet approves Tamil Nadu Industrial Policy 2021
The Tamil Nadu Cabinet on Friday accorded approval for 34 major proposals for investments to the tune of ₹52,257 crore in the State. The Cabinet meeting, chaired by Chief Minister Edappadi K. Palaniswami at the Secretariat, also cleared the Tamil Nadu Industrial Policy 2021, which will be unveiled soon.
The investments are likely to create over 93,000 jobs in the electronics, automobile and auto components sectors, including electric vehicles and solar cell manufacturing, according to an official release. “The incentive packages have been customised to suit the requirements of each investor,” it said. The government had entered into facilitation memoranda of understanding (MoUs) with some investors to enable them to undertake preliminary works. “Now, with the Cabinet approval, detailed legally binding MoUs will be execut ....

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Tata Electronics, Pegatron among Rs 52,258 cr proposals cleared by TN govt

Tata Electronics and Apple Inc s contract manufacturer Pegatron Corporation have obtained the Tamil Nadu Government s approval for their proposed investments in the state. The two proposal are among the 34 investment plans worth Rs 52,258 crore that were cleared by the Tamil Nadu Cabinet today.
The state cabinet also cleared the Government’s new industrial policy for 2021 when it met this evening under the Chief Minister s chairmanship
The proposed investments have the potential to create 93,935 jobs. They are mostly in sectors like electronics, auto mobile and auto components, including electric vehicles, and solar cell manufacturing.
Some of the major investments approved today include Tata Electronics proposal to invest Rs 5,763 crore and create 18,250 jobs in Krishnagiri district for making mobile phone components. ....

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