"Corning Announces Rs 1,000 Crore Investment for New Gorilla Glass Facility in Tamil Nadu"

Corning Inc., the renowned American Gorilla Glass manufacturer and a key supplier to Apple, is reportedly in the process of establishing a Rs. 1,000 crore manufacturing facility in Tamil Nadu, according to sources cited by The Economic Times (ET) on Tuesday. The proposed factory will be located in Pillaipakkam near Sriperumbudur and is expected to generate employment for approximately 300 individuals.

This marks Corning's inaugural entry into the Indian market. Earlier indications had suggested the company's interest in setting up a factory in Telangana. However, as per ET's report, Corning has opted for Tamil Nadu due to its strategic proximity to other Apple suppliers such as Foxconn and Pegatron.

The formal memorandum of understanding (MoU) for the project is anticipated to be signed during the Global Investor Meet (GIM) scheduled for January. Although the specific timeline was not provided in the report, it mentioned that the construction of the facility is expected to take approximately one year.

In a related development reported in October, it was revealed that India's first high-quality finished smartphone cover glass factory, a joint venture between domestic electronics manufacturer Optiemus Infracom and Corning, is likely to be established in either Telangana or Tamil Nadu. This facility, named Bharat Innovation Glass (BIG), is projected to commence operations by the end of 2024. Initially focusing on premium finishing for smartphone cover glasses, the joint venture plans to start production with a capacity of 30 million pieces in the first phase, processing cover glasses for the front and back panels of smartphones.

Seeking support from the central government, the joint venture has applied for incentives under the Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS). The scheme offers a financial incentive of 25% on capital expenditure for a specified list of electronic goods, covering the downstream value chain of electronic products.

BS