Tamil Nadu minister invites industries for manufacturing

Tamil Nadu Industries Minister M C Sampath with CII-Tamil Nadu Chairman M Ponnuswami at a seminar on ‘Investing in Tamil Nadu: Global Investors Meet 2019’ in New Delhi on Tuesday. (Photo: Prem Nath Pandey)

Exhorting that Tamil Nadu was one of the top states in attracting foreign direct investment (FDI), the state’s Industries Minister M C Sampath called for industries to look at the state for manufacturing and its competitiveness. Sampath was speaking at a roadshow organised here to announce its investment promotion programme ‘Global Investors Meet 2019’, which will be held in Chennai on January 23-24. The first such roadshow was organised in Mumbai last week.

“We wish to showcase the manufacturing prowess and competitive strengths of Tamil Nadu and various investment opportunities to investors here,” Sampath said. The minister pointed out that over 3,000 foreign companies, including Joint ventures, have invested in Tamil Nadu. “This includes 61 Fortune 500 companies which have established their base in the state,” he said.

Tamil Nadu had earlier organised the first edition of Global Investors Meet in September 2015, and has since signed memoranda of understanding (MoUs) with 98 major investors with an investment of over Rs 2.42 lakh crore, or around $36 billion. As a result of our close monitoring and follow-up, 63 projects are under various stages of implementation, Sampath said.