Nokia Unit Revival May Give New Life to Tamil Nadu Electronics Sector

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New Delhi: Media reports quoting government officials in Delhi stated that India and Finland have reached an accord on the tax dispute with Nokia under the Mutual Agreement Procedure (MAP), clearing the way for the sale of the company’s Chennai plant.

This involves a payment of Rs 16 billion, a sum Nokia deposited with the government in March.

When contacted, Tamil Nadu government officials said they were not aware of the development, even while confirmimg that Foxconn has shown interest in acquiring the Nokia plant, which was once the Finland-based mobile maker’s largest.

Foxconn already has operations in the state, and has also recently set up a manufacturing unit for Chinese brand Xiaomi in Tamil Nadu.

“Foxconn is interested in reviving the Nokia plant. It is Nokia’s neighbour and is already doing a lot of contract manufacturing for global electronic majors. This would mean more employment in Tamil Nadu. Electronic hardware maufacturing jobs would get a major boost and the state government will support Foxconn’s efforts in revive the facility,” said senior official from the State government.

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