Taiwan’s Pou Chen Organization, which makes shoes for well-known worldwide brands like Nike and Adidas, on Monday, swore to contribute Rs 2,302 crore to up an enormous assembling unit in the Kallakurichi locale giving the position to the north of 20,000 individuals, in a jolt for Tamil Nadu Government planning to arise as a center point for the non-calfskin footwear area.
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High Glory Footwear India Pvt Ltd, a subsidiary of Pou Chen, will invest the sum over a 12-year period to establish a major non-leather footwear manufacturing unit in SIPCOT Industrial Park , Ulundurpet, on the Chennai-Kanyakumari National Highway, there is a backward region.
In the presence of Chief Minister MK Stalin, a Memorandum of Understanding (MoU) was signed by S Krishnan, Additional Chief Secretary of Industries for the government of Tamil Nadu, and George Liu, Vice President of Pou Chen Group. Additionally, Kothari-Phoenix Group and its component manufacturers have signed a memorandum of understanding (MoU) with the government of Tamil Nadu to invest Rs. 2,740 crores.
Tamil Nadu is already a key manufacturing centre for leather products in India, contributing to 45% of the sector’s exports. However, the state now wants to concentrate on the non-leather footwear industry. To attract investments in the sector from Taiwanese businesses, the government also signed a memorandum of understanding with the Taiwan Footwear Manufacturers Association.
However, a few calfskin footwear producers in the state have previously focused on the blossoming non-cowhide footwear area, the MoU with Pou Chen is huge as Tamil Nadu will currently be essential for the worldwide store network for brands like Nike, Asics, Adidas, and Forest area, New Equilibrium, and Salomon.