Tamil Nadu CM to invite 13 prominent tech companies to invest in state

Tamil Nadu Chief Minister Edappadi K Palaniswami has decided to reach out to 13 global heads of prominent companies in the electronic sector including Apple CEO Tim Cook and Amazon CEO Jeff Bezos, inviting them to invest in the state and offering the state government's support in the form of customised incentive packages. 

The move is aimed at cashing in on the opportunities arising with companies planning to exit from countries like China and looking to relocate their manufacturing activities to countries like India.

He will be writing directly to the heads of these companies, including Samsung's president and CEO Kim Hyun Suk and HP's CEO Enrique Lores, among others, said a government announcement.

 

"The letters outline the investment attractiveness and inherent advantages of the State of Tamil Nadu and offer excellent support for business and industry to further their growth and promise a customised incentive package according to their requirement," it said.

With Covid-19 severely impacting the world economy, many overseas industries are likely to exit from certain countries and relocate their manufacturing activities to countries like India. The chief minister has constituted a special Investment Promotion Task Force under the chairmanship of the chief secretary to attract these investments. The positive steps taken by the government are already showing results as showed by the fact that the state was recently able sign MoUs with 17 foreign companies for Rs 15,128 crore.

"This shows that Tamil Nadu is the best destination for investment even in this pandemic situation," it said. Earlier, Palaniswami led a government delegation to various countries to attract investors.