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Chennai-Tirupati-Nellore Tri-City industrial hub among top 10 most attractive clusters for investment: Invest India

Our Bureau Hyderabad | Updated on May 20, 2020 Published on May 20, 2020

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The Sri City centred Chennai-Tirupati-Nellore Tri-City growth corridor has been chosen among the top ten places for manufacturing across nine States in the country with high potential to attract investments from other countries.

As a part of its ‘Doing Business in India Guide’ series, Invest India, the National Investment Promotion and Facilitation Agency of the Government of India, in collaboration with JLL India, released a publication titledGreat Places for Manufacturing in India on Wednesday.

The Mumbai-Aurangabad, Pune, Gurugram-Bhiwadi-Neemrana Corridor, Noida-Greater Noida-Yamuna Expressway, Bengaluru, Hyderabad, Ahmedabad and Vadodara - Bharuch-Ankleshwar Cluster are the remaining areas presented in the publication.

Ravindra Sannareddy, founder and Managing Director, Sri City, said, “The Chennai-Tirupati-Nellore Tri-City industrial hub falls under the influence zone of two major industrial corridors, viz. Chennai-Bengaluru Industrial Corridor and Vishakhpatnam-Chennai Industrial Corridor. Sri City, which is at the centre of the Tri-City hub, has emerged as the largest industrial park in South India, with the presence of more than 187 prestigious brands from 27 countries.”

‘Excellent connectivity’

He added, “The Tri-City hub is an ideal business location for companies from India and abroad in order to be successful in the Indian markets. With its strategically-favourable location, excellent road and rail connectivity, convenient access to four seaports, and two international airports, the Tri-City hub offers the advantage for serving the domestic and overseas market. It boasts of a large pool of highly skilled workforce and competitive labour costs.”

The Invest India’s publication, a thematic collations of details of the ten mega clusters, highlights that they are the most attractive destinations for companies to set business based on sectoral requirements and tax incentives, to promote the country as an alternative business continuity plan destination amid the ongoing Covid-19 pandemic.

These 10 mega clusters cover about a hundred popular industrial parks and house over 600 Indian and foreign multinational companies.

Published on May 20, 2020

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