TN inks Rs 2,300-cr investment pact with footwear firm

CHENNAI: Tamil Nadu government on Monday signed a memorandum of understanding with a well-known footwear maker for an investment of Rs 2,302 crore in the State.

The MoU was signed with High Glory Footwear, a subsidiary of Taiwan-based Pou Chen Corporation, “the world’s largest branded footwear manufacturer,” in the presence of Chief Minister MK Stalin, a tweet by Guidance Tamil Nadu, said.

“Over next 12 years, this partnership will generate job opportunities for more than 20,000 people in non-leather footwear sector, especially for the youth and women in and around the Kallakurichi district,” it added.

The manufacturing unit will come up at SIPCOT, Ulundurpet in Kallakurichi.

The investment has been attracted in the wake of the government releasing a Footwear and Leather Products Policy 2022 in August last, a release said.

It was also in lines with the government’s policy of ensuring industrial growth in backward districts and help in employment generation, it added.