TN to host global investor meet in Jan to mop up investments

Tamil Nadu is looking to attract investments in 12 sectors including auto, textiles, renewable energy, petrochemicals among others, during its second edition of global investor meet, the state's industries minister MC Sampath said Friday.

"Tamil Nadu is going to organise the global investors meet for the second time on January 23 and 24, 2019 in Chennai. We have many competitive strengths and attractive packages like land allotment, good infrastructure support, single window facilitation portal for investment," he said.

The state had attracted investments to the tune of Rs 2.42 lakh crore during its first global investors meet in 2015, with 98 MoUs.

Of this, it has realised Rs 73,000 crore through 63 projects which are under various stages of implementation.

For the second edition, it is looking at surpassing the quantum which it achieved in 2015 and is looking at investments in textiles and apparel, pharmaceuticals and biotech, agro and food processing, aerospace and defence, automobiles and auto components, renewable energy, infrastructure, heavy engineering, chemicals and petrochemicals, heaving engineering, electronic hardware, and IT and ITeS.

It contributes 27.45 per cent of the national automobile output. The state government has identified over 200 infrastructure projects, targeting to attract investments to the tune of USD 250 billion.

The minister met with some of the corporates like Tata Group, Mahindra and Mahindra, Godrej Group, Hinduja Group, RPG, BASF among others.

He added that the state is looking at attracting investments in its southern districts and that the company is one of the top states in attracting foreign direct investment and last year saw inflows worth USD 3.6 billion.

Tamil Nadu has 38 Special Economic Zones and 22 Industrial Parks.