TAIPEI (Taiwan News) — Taiwan’s Hong Fu, the world’s second-largest shoe manufacturer, plans to set up a factory in the Indian state of Tamil Nadu and provide 20,000 jobs, reports said Thursday (April 6).

State agency Guidance Tamil Nadu said a land allotment order of 130 acres had been granted to Hong Fu and Florence Shoes, CNA reported. Hong Fu founder Chang Tsung-yuan (張聰淵), one of Taiwan’s wealthiest business leaders, was at the signing ceremony.

The company manufactures athletic shoes for major global brands such as Nike, Puma, Vans, and Converse, in factories spread across the world. The latest project started with the signing of a memorandum of understanding between Hong Fu and the Tamil Nadu state government in April 2022.

Investment is likely to total Rs10 billion (NT$3.72 billion, US$122.17 million) over three to five years, creating 20,000 jobs including 2,650 indirect ones and boosting exports from the state, India’s Financial Express reported.

India is one of 18 countries in South and Southeast Asia identified by Taiwan as targets for its New Southbound Policy to intensify trade, business, cultural, tourism, and educational links.