Global majors bet on Tamil Nadu as Daimler, Saint-Gobain line up projects

Daimler, Saint-Gobain and YKK announced fresh investments in Tamil Nadu, while 25 companies signed deals to establish their first India facilities at the Vetri conclave.

Several global manufacturing majors announced fresh investments in Tamil Nadu at the Vetri Tamil Nadu Investment Conclave 2026, including Daimler, Saint-Gobain and YKK, while as many as 25 companies signed deals to set up their first-ever India facilities in the state.

 

Germany's Daimler India Commercial Vehicles will invest ₹4,000 crore to expand its 400-acre Oragadam facility for design, research and development, and manufacturing of commercial vehicles. France's Saint-Gobain, the world's largest glass manufacturer, will invest ₹2,000 crore across a new greenfield plant in Krishnagiri and an expansion in Kanchipuram.

 

Japan's YKK, the world's largest manufacturer of zippers and fastening products, will invest ₹1,651 crore in Tiruvallur, creating 4,316 jobs. Singapore's Ascendas Firstspace will develop a ₹1,000 crore industrial park in Tiruvallur — its largest footprint in India. US-based Super Micro Computer, ranked No. 292 on the Fortune 500, will set up server assembly operations in Chennai.

   

Among the new India entrants, Germany's Bitzer, a leading global manufacturer of HVAC compressors, will make its India debut in Kanchipuram with an investment of ₹300 crore. Taiwan's Bao Yan India Shoe will set up its first India plant in Vellore with ₹240 crore, creating 3,000 jobs and bringing manufacturing for international brands Geox of Italy and L.L. Bean of the United States to Tamil Nadu. Malaysia's Kinesis Semiconductor will establish India's first localised semiconductor wire-bonding materials facility in Chennai.

 

What new institutional agreements were signed?

 

The Vetri conclave witnessed a series of significant institutional agreements aimed at strengthening Tamil Nadu's trade, investment, technology, skilling and global economic partnerships.

 

Key engagements include partnerships with Invest Kazakh (Kazakhstan) and INZBC (New Zealand) to promote trade, bilateral investments and sister-city cooperation. Invest Kazakh is expected to lead a 100-member delegation to Tamil Nadu in September 2026, while a Christchurch Mayor-led delegation is planned for October.

 

Other major initiatives include the Bosch-TIDCO Centre of Excellence in Cybersecurity, Artificial Intelligence and Advanced Technologies, expected to benefit over 10,000 students, professionals, startups and MSMEs annually; a deep-tech commercialisation partnership with AIC IGCAR FAST Foundation; and a ₹75 crore semiconductor skilling initiative by WOWsemi Foundation, targeting training for over 75,000 people over five years.

 

The conclave also marks a new chapter in Tamil Nadu-Russia economic cooperation through an MoU with Sberbank, focused on skilling and technology transfer. These partnerships reaffirm Tamil Nadu's commitment to building a globally connected, technology-driven and investment-ready economy, the government said on Thursday.