Corning’s Indian JV signs $120 Million Investment Deal with Tamil Nadu State

India’s Tamil Nadu state announced on Tuesday that a Corning JV had agreed to invest 10 billion rupees ($120.4 million), highlighting the growing significance of the south Asian nation as a manufacturing hub. Corning’s Indian JV has committed to investing $120 million.

The joint endeavor (JV), named Bharat Inventive Glass Technologies, is a contract between U.S. gadgets creator Corning, a key parts provider for Apple, and Indian media communications organization Optiemus Infracom.

The new office will make title page glass for cell phones and telephone parts producers in India, the state government said, without determining the specific brands to which the glass would be provided.

The office in Tamil Nadu is the organization’s most memorable assembling plant after the JV was framed in September.

The global shift in supply chains away from China is helping the $155 billion Indian electronics market. The Indian government’s production-linked incentives to encourage local manufacturing also help.

A few agreement makers, including the world’s biggest, Taiwan’s Foxconn, as well as other Apple providers, for example, Pegatron and Finland’s Salcomp have consented to arrangements worth a few million bucks to extend their tasks in India.

Recently, Tamil Nadu said it had gone into arrangements totalling 6.64 trillion rupees in speculations with financial backers going from innovation heavyweights Microsoft to nearby combinations, for example, the Adani Gathering.

Various Indian states, including Telangana, Gujarat, and Maharashtra have marked venture managed organizations, for example, Maruti Suzuki, the Goodbye Gathering, and the Adani Gathering.