In order to establish a manufacturing facility in Tamil Nadu, a subsidiary of Pou Chen, the largest manufacturer of branded sports footwear in the world, will invest Rs 2,302 crore ($280.86 million).
In 2022, the Taiwanese company that manufactures shoes for companies like Nike, Adidas, New Balance, and Timberland will have produced and transported over 272 million pairs of shoes worldwide.
“We hope this would be the first of many investments to come (in India),” Pou Chen Vice President George Liu said in a meeting streamed online with Tamil Nadu Chief Minister M K Stalin.
The investment would create about 20,000 jobs in Tamil Nadu over a span of 12 years, according to a Reuters report, and comes nearly a year after Taiwanese peer Hong Fu Group signed a deal to invest Rs 1000 crore to make footwear in the southern state.
