Austria bullish on Tamil Nadu

Tamil Nadu is set to emerge as a potential investment destination after Delhi and Mumbai for Austrian companies, according to Walter Koren, director "� foreign trade, Austrian Federal Economic Chamber.

An Austrian delegation is currently visiting India, covering New Delhi, Mumbai and Chennai to explore business co-operation and investment potential in these regions.

To facilitate Austrian investments and help companies looking for business tie-ups in Tamil Nadu, an Austrian trade marketing office was opened on Wednesday in Chennai, the third location in India to have Austrian marketing offices after Mumbai and New Delhi.

The opening of a marketing office signals that Tamil Nadu is emerging as a potential investment region for Austria, Koren said, addressing a meeting organised by FICCI.

A number of Austrian companies are looking at investment opportunities in infrastructure, environment technology and machinery sectors in the immediate term and the automotive sector in future in the state, he added.

He said the delegation was impressed by the availability of skilled manpower, engineering know-how and industrial dynamism of the Chennai region.

There is increasing interest in Tamil Nadu and the state has the potential to emerge as a vibrant manufacturing base for Austrian companies.About 75 Austrian companies have established operations in India. Over half of these are engaged in production activities.

However, most have established operations in and around Delhi as well as in Mumbai and Pune regions. Only very few companies such as IDEA and Va Tech have established operations in Tamil Nadu.