In the next 3-5 years, Taiwanese footwear giant Hong Fu Industrial Group would invest Rs 1,000 crore in establishing up a manufacturing operation in Tamil Nadu, which will employ roughly 20,000 people.
In the presence of Chief Minister M K Stalin, the firm signed an MoU with the State government. The investment will provide a significant boost to the state’s footwear manufacturing and export.
Since 2003, Hong Fu has been designing, developing, producing, and distributing athletic gear. According to a government news release, it is one of the main makers of sports shoe brands such as Nike and Puma.
