Korean automobile giant Hyundai's plans for its Chennai facility will help make Tamil Nadu the first state in India to manufacture electric cars, said the state government on Thursday.
M C Sampath, minister for industries, said the state plans to attract companies that are moving out of China after that country's trade dispute with the United States.
"Hyundai is working on rolling out its electric car for India and the global market from the Chennai facility. This is a milestone. We want to make the state an electric vehicle manufacturing hub," said Sampath in the state Assembly while presenting the demand for grant for the year 2019-20.
The Tamil Nadu Industries Development Corporation (TIDCO), a government agency, is selecting a consultant for preparing a report on developing a greenfield airport near Chennai--the second airport in the city.
Sampath said the state aims to attract Rs 10,000 crore in defence sector on five years, buoyed by the Defence Corridor announced by the Central Government.
Tamil Nadu ranks third in the amount of invested capital in the industrial sector, at Rs 4.02 lakh crore, after Gujarat (Rs 8.14 lakh crore) and Maharashtra (Rs 5.02 lakh crore). The State ranks third in terms of total industrial output, with Rs 7.66 lakh crore, after Gujarat (Rs 12.22 lakh crore) and Maharashtra (Rs 10.74 lakh crore).
The state has 37,220 factories--the most in India, while Maharashtra (27,010 units) and Gujarat (25,966 units) follows, he added. The number of persons engaged in the factory sector is the highest in India, at 24.08 lakh persons, 25 per cent higher than the next state Maharashtra.
Around Rs 1.07 lakh crore worth of investments expected to come in the power sector under the first Global Investors Meet (GIM) held in 2015 has come to a halt owing to the State electricity board's decision to purchase power from the lowest bidder based on tender.