May 18, 2024 05:44 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Congress LS candidate Kanhaiya Kumar assaulted during election campaign in Delhi | Taj Mahal gets competition as new white marble wonder Soami Bagh opens in Agra | Swati Maliwal taken to Kejriwal home as cops probe assault charge, AAP faces heat | 'He slapped me 7-8 times.. brutally dragged me, pulled my shirt up': Swati Maliwal in complaint against Kejriwal's aide Bibhav Kumar | Arvind Kejriwal should apologise: Nirmala Sitharaman slams Delhi CM for his silence over Maliwal case
Corning to establish Gorilla Glass factory in Tamil Nadu at investment of Rs 1,000 cr Corning Gorilla Glass
Photo courtesy: wikipedia.org

Corning to establish Gorilla Glass factory in Tamil Nadu at investment of Rs 1,000 cr

India Blooms News Service | @indiablooms | 13 Dec 2023, 12:29 am

Chennai: American manufacturer of Gorilla Glass, Corning Inc, which is also a key supplier for Apple, is planning to set up a manufacturing facility in Tamil Nadu with an investment of Rs 1,000 crore, The Economic Times (ET) reported on Tuesday.

The proposed factory is intended to be located at Pillaipakkam near Sriperumbudur and is expected to generate employment for 300 individuals.

This venture marks the company's entry into the Indian market.

While earlier reports indicated the company would set its factory in Telangana, the latest ET report suggests that Tamil Nadu has been chosen over Telangana due to its proximity to other Apple suppliers such as Foxconn and Pegatron.

In the initial phase, the new manufacturing facility, established as part of the 70:30 joint venture between Optiemus and Corning, will focus on providing premium finishing for smartphone cover glasses. The joint venture entity is named Bharat Innovation Glass (BIG).

Anticipated to start operations in 2024, the facility is slated to have a production capacity of 30 million pieces in its first phase.

The Indian factory will process cover glasses for both the front and back panels of smartphones.

To support this initiative, the joint venture has sought assistance from the central government and has applied for incentives under the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS).

Notably, SPECS offers a financial incentive of 25 percent on capital expenditure for a specified list of electronic goods within the downstream value chain of electronic products.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.