TN targets 35% growth in FDI aggregating to USD 17 billion

Tamil Nadu has begun road shows in Mumbai, Bengaluru, Hyderabad, New Delhi, Ahmedabad, Pune and Kolkata, which are set to conclude on April 23, a month before the Global Investors Meet 2015 to be held on May 23 and 24 at the Chennai Trade Centre.
An official statement issued here today said that industry bodies like Ficci have been partnering the state's initiatives.
Tamil Nadu has targeted 35 per cent growth in foreign direct investments aggregating to USD 17 billion from USD 12.5 billion achieved during 2010-2014 from 35 Fortune 500 companies, the statement said.
The Tamil Nadu government has developed a 'Vision 2023' for the state, which envisages investments to the tune of Rs 1,50,000 crore (USD 25 billion) for infrastructure development, the statement said.

The statement said that 12 focus sectors have been identified for the Tamil Nadu Global Investors' Meet including automobiles and auto components, aerospace, infrastructure, renewable energy, heavy engineering, textiles and apparels, pharmaceuticals and biotechnology, electronics hardware, chemicals, petrochemicals and minerals, IT/ITeS, agro and food processing as well as skill development.
Nearly 80 per cent of the targeted investments would be in the areas of energy, transport, water supply, industrial and commercial infrastructure as well as urban infrastructure, the statement said.
More than 40 per cent of investments are proposed to be under the Public Private Partnership (PPP) model providing more opportunities for private players as well as developers in infrastructure development, the statement said.

Tamil Nadu Industries Minister P Thangamani said that 33 MoUs signed with private companies would generate 162,000 job opportunities, the statement said.