Macro Economy

‘Tamil Nadu is the best destination for investment’: CM K Palaniswami writes to heads of consumer goods companies

PTI Chennai | Updated on June 13, 2020 Published on June 13, 2020

Chief Minister Edappadi K Palaniswami   -  The Hindu

He reached out to Fossil, Nike, Adidas AG and Mattel heads

Seeking to attract foreign investments,Tamil Nadu Chief Minister K Palaniswami has reached out to five global heads of prominent companies in the consumer goods sector by writing to them personally, the government said on Saturday.

Outlining the investment attractiveness and inherent advantages of Tamil Nadu, the Chief Minister pointed out the facilitation support provided for business and industry to further their growth and assured a customised incentive package as per their requirements.

Palaniswami has written to Chief Executive Officer, Kate Spade, Liz Fraser, Chairman, Fossil Group, Kosta Kartsotis, CEO, Nike, John Donhoe,CEO, Adidas AG, Kasper Rorsted and CEO, Mattel Inc Ynon Kreiz, an official release said.

Due to the impact caused by Covid-19 to the world economy, many overseas industries are likely to exit from certain countries and relocate their manufacturing activities in countries like India, the government said. “The proactive steps taken by the government is already showing results as evidenced by the fact that the State could recentlys ign MoUs with 17 multinationals for foreign investments of Rs 15,128 crore. This shows that Tamil Nadu is the best destination for investment even in this pandemic situation.”

Palaniswami has taken several steps for attracting foreign investments into Tamil Nadu and it includes formation of country specific investment facilitation desks and diplomatic outreach programmes and constitution of Special Task Force to promote investments, the government said.

Days ago, he had written to leaders of global pharmaceutical companies, inviting them to set up units in the State, promising them attractive packages.

The Chief Minister had written to heads of various companies, including Philips Medical Systems, Siemens Healthcare, Sirona Dental Systems and GE Healthcare.

Published on June 13, 2020
This article is closed for comments.
Please Email the Editor