Tamil Nadu forms special task force to woo investors post-COVID-19

By: |
April 30, 2020 5:10 PM

The Special Task Force would comprise representatives from business associations, companies from Japan, South Korea, Taiwan, Singapore and USA, secretaries of finance, industries, MSME, guidance bureau as its members.

 Chief Minister K Palaniswami (File image)Chief Minister K Palaniswami (File image)

Tamil Nadu government on Thursday announced the formation of a special task force under Chief Secretary K Shanmugam to attract investments from overseas companies which were likely to relocate from certain countries post-coronavirus outbreak. Chief Minister K Palaniswami constituted the special task force to invite investors from Japan, South Korea, Taiwan, Singapore and the United States who might relocate their operations to countries like India to diversify their supply chain.

Maintaining that the government was committed to revive industrial sectors and make them vibrant once COVID-19 pandemic recedes, the government said due to adverse impact on the global economy by coronavirus, many industries located overseas are likely to exit from certain countries and relocate their base in countries like India.

“They include investors from Japan, South Korea, Taiwan, Singapore and USA who already have significant investments in Tamil Nadu,” an official press release said. Palaniswami has issued the Special Task Force instructions to take steps to attract the new investments in order to create new job opportunities and submit its report in a month.

The Special Task Force would comprise representatives from business associations, companies from Japan, South Korea, Taiwan, Singapore and USA, secretaries of finance, industries, MSME, guidance bureau as its members.

The task force would identify potential investors, frame guidelines for expediting single-window clearances, formulate special incentive package and identify key infrastructure projects, including a dedicated industrial township. The government of Tamil Nadu is taking all necessary steps to ensure the state shines continously as the most preferred investment destination, the release said.

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