New Delhi (India), 17th April 2023: In order to establish a manufacturing facility in Tamil Nadu, a subsidiary of Pou Chen, the largest manufacturer of branded sports footwear in the world, will invest Rs 2,302 crore ($280.86 million) In the state.
Pou Chen Vice President George Liu said in a meeting streamed online with Tamil Nadu Chief Minister M.K. Stalin, “We hope this would be the first of many investments to come (in India).”
In 2022, the Taiwanese company that manufactures shoes for companies like Nike, Adidas, New Balance, and Timberland produced and transported over 272 million pairs of shoes worldwide.
According to a report from Reuters, the investment will generate roughly 20,000 employment in Tamil Nadu over the course of 12 years and comes almost a year after Taiwanese rival Hong Fu Group agreed to invest Rs 1000 crore to produce shoes in the southern state.
According to a government estimate, Tamil Nadu produced 45% of India’s footwear exports over the previous five years with several brands, including Giorgio Armani and Gucci.
As they seek to expand their business away from China and Taiwan, foreign manufacturers like Apple suppliers Foxconn, Salcomp, and Pegatron have found Tamil Nadu to be an ideal location for their manufacturing plants.
