Tamil Nadu Woos India Inc At Investor Summit

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Chennai | Published: September 9, 2015 8:40:19 PM

Tamil Nadu is wooing the captains of Indian industry at its first ever Global Investors Meet in Chennai, as it aims to attract investments of atleast Rs 1 lakh crore and create 150,000 jobs...

Tamil Nadu is wooing the captains of Indian industry at its first ever Global Investors Meet in Chennai, as it aims to attract investments of atleast Rs 1 lakh crore and create 150,000 jobs in the next three years. During the 2-day summit that began on Wednesday, the state government expects to sign about 100 agreements.

On the first day of the summit, Chief Minister Jayalalithaa innaugurated Yamaha’s Rs 1,600 crore plant at Oragadam, near Chennai.

Some of India’s biggest corporate names including Mahindra & Mahindra chairman Anand Mahindra, ITC chairman Y C Deveshwar, TVS Motors CMD Venu Srinivasan, Apollo Hospitals founder Pratap C Reddy, HCL founder Shiv Nadar, JSW Steel MD Sajjan Jindal, Adani Group chairman Gautam Adani, Indian Oil Chairman B Ashok, Yes Bank Chairman Rana Kapoor, MRF Chairman KM Mammen and Murugappa Group Vice Chairman were present at the event.

“My government believes, in a balanced industrial development across the State. Hence I introduced, a very attractive package of incentives to encourage investors to invest in the southern districts of Tamil Nadu,” she said.

Jayalalithaa said the state is offering land bank of 42,000 acres for the industry to occupy, and assured all necessary clearances within 30-days.

Mahindra and Mahindra Chairman Anand Mahindra said he was present as an ambassador for Tamil Nadu and to give a testimony of benefits of investing in the State. Mahindra Group has set up Mahindra World City, an integrated business city, at Maraimalai Nagar near Chennai. Mahindra Lifespace is now planning to set up another zone on the North part of Chennai. The Group’s automotive business is also investing around Rs 4,000 crore to set up an automotive plant in the state.

HCL Founder Shiv Nadar who hails for the state said, “Our investments are a continuous process. Global Investors Meet will give lot of momentum to the state.”

Union minister of state for commerce and industry Nirmala Sitharaman, Minister of State for Road Transport, Highways and Shipping Radhakrishnan, French Minister Paul Hermelin and Ambassadors of various countries were also present.

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