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.

Tweets by Industries Minister TRB Rajaa too mentioned 'Foxconn' and 'Hon Hai Precision Industry.' While the latter is the name of the company in Taiwan and China, the former is the name by which it is known elsewhere.

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.