 "Footwear, garments, manufacturing")
The Tamil Nadu government on Thursday signed a memorandum of understanding (MoU) with Taiwan-based sports footwear major Hong Fu for setting up a manufacturing unit at an investment of around Rs 1,000 crore over a period of around five years.
The current MoU will create around 20,000 jobs, in addition to giving a boost to the footwear manufacturing industry in Tamil Nadu. Hong Fu is reportedly a leading manufacturer of brands like Nike and Puma and has been manufacturing and selling sportswear since 2003. The state has signed around 130 MoUs for investments to the tune of Rs 68,375 crore
