Explained: The Confusion Over The Foxconn Deal Signed By Tamil Nadu

Question marks were raised regarding an agreement signed by the Tamil Nadu government with Foxconn on 31 July to establish a manufacturing facility for electronics components with an investment of Rs 1600 crore after a Reuters report quoted a report by China's Securities Times which said that Foxconn Industrial Internet, (the Foxconn subsidiary that reportedly signed the deal), had denied it.

However, it has now been understood to be a deal between Foxconn and the government and not the subsidiary 'Foxconn Industrial Internet', unlike what was reported yesterday.

According to a report by Focus Taiwan, the subsidiary, 'Foxconn Industrial Internet' is also in talks with the Tamil Nadu government and its CEO Brand Cheng has met Chief Minister Stalin.