A well-known footwear manufacturer and the Tamil Nadu government on Monday inked a memorandum of understanding for the latter to invest Rs. 2,302 crore in the former.

Referring to  a tweet from Guidance Tamil Nadu, the MoU was signed with High Glory Footwear, a division of Taiwan-based Pou Chen Corporation, "the world's largest branded footwear manufacturer," in the presence of the chief Minister M K Stalin. It serves as the state government's focal point for facilitating single-window transactions and promoting investment.

More than 20,000 persons will find work in the non-leather footwear industry over the course of the next 12 years thanks to this agreement, particularly young people and women in the Kallakurichi district.

An official release said the manufacturing unit will come up at SIPCOT, Ulundurpet in Kallakurichi. The investment was attracted after the government unveiled its Footwear and Leather Products Policy 2022 in August of last year.

The release also stated that it was consistent with government policy and would significantly aid the newly established Kallakurichi district in creating jobs. This strategy is to ensure industrial growth in the state's underdeveloped districts.

There were representatives from the state administration, the corporation, and Industries Minister Thangam Thennarasu.

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