Corning's Indian Joint Venture Plans ₹1,003-Crore Factory in Tamil Nadu

Bharat Innovative Glass Technologies Pvt Ltd, a joint venture between US-based gorilla glass manufacturer Corning International Corporation and Indian telecommunications company Optiemus Infracom, is set to establish a new factory near Chennai with a substantial investment of ₹1,003 crore. The facility will focus on the production of front-cover glass products designed for smartphones and electronic devices. The joint venture firm formalized the agreement with the Tamil Nadu government on Tuesday for the proposed project.

Located at the SICPOT-Pillaipakkam Industrial Estate in Kancheepuram district, the new glass manufacturing unit is anticipated to generate employment opportunities for 840 individuals. This venture marks the introduction of precision glass-processing technology to India, with manufacturing activities centered in Tamil Nadu.

T R B Raaja, the Minister for Industries, Investment Promotions, and Commerce in the Tamil Nadu state government, expressed, "With today’s MoU, smartphones in India will sport gorilla glasses made in Tamil Nadu."

This development aligns with Tamil Nadu's recent achievements in the business landscape, where 631 Memoranda of Understanding (MoUs) were signed during the Global Investors Meet, reflecting a total investment commitment of ₹6,64,180 crore. These commitments hold the potential to create direct employment for 14,54,712 individuals and total employment for 26,90,657 people. Notable investment commitments include Tata Electronics (₹12,082 crore) and Pegatron (₹1,000 crore) in the electronic manufacturing segment.

Moreover, Tamil Nadu has emerged as the leading electronics exporter in the country, achieving $5.37 billion in exports during the fiscal year 2022-23, a significant increase from the $1.6 billion recorded in 2020-21.

To further enhance its position in the electronics sector, the state government has introduced the "Tamil Nadu Semiconductor and Advanced Electronics Policy 2024," aiming to attract more investments and foster export growth in this industry.

HBL