Taiwan-based footwear manufacturing giant, Hong Fu, has made a significant investment at the Tamil Nadu unit located in Ranipet on Monday, a report has revealed.
The global footwear manufacturer group has made a hefty investment of US $ 176.65 million to establish a domestic manufacturing unit of non-leather footwear and athletic footwear products.
Hong Fu Industrial Group is a major global supplier to international brands like Nike, Adidas, and Puma.The investment is set to create over 25,000 jobs, primarily aiming for a livelihood opportunity for rural women.
The Taiwanese company chose Tamil Nadu due to its favourable business climate and potential for growth. The new facility, located in Panapakkam, is expected to be operational by early 2026.
This significant investment underscores India’s growing importance as a manufacturing hub and highlights the Tamil Nadu government’s efforts to attract foreign investment and promote job creation in the state.
Chairman of Hong Fu, T.Y. Chang said that India’s increasing global presence and growing economic development was what attracted this investment and made it a “natural choice”.
Joint Venture Partner and project stakeholder, Aqeel Panaruna, said that the unit establishment is not only aimed at “world-class footwear manufacturing” but also at creating higher job opportunities and uplift communities, resulting in a “inclusive development”
Hong Fu is the world’s second-largest manufacturer of non-leather athletic footwear produces around 200 million pairs of sports shoes every year, generating a revenue worth $3 billion. It has supplied for brands including Reebok, HOKA, Under Armour, Nike, Converse, Vans, UGG, Puma, Adidas, and ON (a Swiss sportswear brand). The group operates in countries across the world like Hong Kong, Taiwan, Vietnam, Indonesia, Myanmar, among others.
