TN CM to invite global auto OEMs to invest in the State

Our Bureau Chennai | Updated on June 04, 2020 Published on June 04, 2020

Chief Minister Edappadi K Palaniswami   -  The Hindu

Tamil Nadu Chief Minister Edappadi K Palaniswami will personally write to 11 global heads of major automobile companies seeking investment in to the State. Last week, he wrote to some of the large players in the electronics sector.

The auto majors are Volkswagen, Skoda, Mercedes-Benz, Audi, LUXGEN TAOYUAN Motor, Honda, Toyata, BMW, Jaguar Land Rover, General Motors, Chevrolet and Tesla, said a government press release.

The letter will outline the investment attractiveness and inherent advantages of the State and offer support for business and industry to further their growth and promise a customised incentive package as per their requirement.

The Chief Minister had taken several steps to attract foreign investments into Tamil Nadu. This includes creation of Country Specific Investment Facilitation Desks, Diplomatic Outreach Programmes and constitution of a special task force for investment promotion.

Due to the impact of Covid on the world economy, many overseas industries are likely to exit from certain countries and relocate their manufacturing activities in countries such as India.

The Chief Minister had constituted a special Investment Promotion Task Force under the Chairmanship of Chief Secretary for attracting these investments. The steps taken by the Government is already showing results with the State recently signing MoUs with 17 foreign investors for ₹15,128 crore. This shows that Tamil Nadu is the best destination for investment even in this pandemic situation, the release said.

Published on June 04, 2020
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