CHENNAI: Chief Minister MK Stalin virtually laid the foundation stone for the Rs 1,500 crore non-leather footwear manufacturing facility developed by Taiwan-based Hong Fu Industrial Group at SIPCOT Industrial Park in Panapakkam in Ranipet.
The Grand Atlantia- Hong Fu India Project, which will become operational by early January 2026, will generate 25,000 jobs, with 85% of the workforce being women. The first project of Hong Fu group in India, it will cater to non-leather footwear and athletic footwear products.
“In our mission to become the footwear capital of India, we are proud that we have been able to bring in a cumulative investment of Rs 6,550 crore in this sector, creating 86,150 jobs in the districts of Perambalur, Villupuram, Kallakurichi, Ariyalur and Ranipet. Another significant outcome is that most of these jobs will be for our young women!,” Stalin later tweeted on X.
Hong Fu is reportedly the world’s second-largest manufacturer of non-leather athletic footwear, produces approximately 200 million pairs of sports shoes annually, generating $3 billion in revenue. It partners with global brands such as Nike, Converse, Vans, UGG, Puma, Adidas, Reebok, HOKA, Under Armour and Puma and ON (a Swiss sportswear brand). The company’s entry into Tamil Nadu marks a major milestone for the state’s industrial landscape, said sources.
“With operations across Hong Kong, Taiwan, Vietnam, Indonesia, Myanmar, and other countries, Hong Fu’s made the investment in India due to the country’s rapid economic development and growing global influence,” said TY Chang, chairman of Hong Fu. His son, Jacky Chang, director and CEO of Hong Fu, shared his optimism for the project’s success and expressed gratitude to the Tamil Nadu and Indian governments for their support.
Hong Fu signed two MoUs with the state government for the project: one in April 2022 for an initial investment of Rs 1,000 crore, followed by the second for an additional investment of Rs 500 crore in January 2024. This brought the total investment for the Panapakkam project to Rs 1,500 crore.
Meanwhile, Industries Minister TRB Rajaa said the project is a shining example of Dravidian Model’s focus on inclusive growth and empowering communities. The project also reinforces Tamil Nadu’s position as a global footwear hub, he said adding, the state continues to march ahead, ensuring jobs for women and growth across the state, especially in districts like Perambalur, Ranipet and beyond.