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Tuesday, July 17, 2018

Tamil Nadu woos investors from Gujarat for it’s maiden Global Investors’ Summit event

TN joins a long list of states who have emulated the Vibrant Gujarat Global Investors' Summit model popularised by Gujarat govt.

Ahmedabad | Published: April 17, 2015 7:17:23 pm

In order to woo investors from Gujarat, officials from the AIADMK-government in Tamil Nadu — that is for the first time organising a two-day Global Investors’ Summit on May 23-24, 2015 — organised a roadshow in the city on Friday. Officials from this southern state were vocal about how their government had taken a leaf out of Gujarat’s book to conduct this “branding exercise” among potential investors from India and abroad.

Tamil Nadu joins a long list of states like Madhya Pradesh, Chhattisgarh, Karnataka and West Bengal who have emulated the Vibrant Gujarat Global Investors’ Summit model popularised by Gujarat government and have begun organising similar investment summits to push investments into their respective states.

“The government felt the need for organising such a branding exercise and so we decided to follow other states who have does similar exercises in the past… Gujarat has set the model for this event and other states like MP, Chattisgarh, Karnataka and Kerala have caught up. So we thought to organise such an event by incorporating the best practices of other states and also from countries like Thailand,” said CV Shankar, additional chief secretary, industries department of Tamil Nadu government.

On Friday, the officials from the Tamil Nadu government, including the state minister for Industries, P Thangamani came to Ahmedabad and organised a roadshow to help attract investments from Gujarat companies in the sectors like Petrochemicals, ports, Infrastructure and Power.

“It is a good opportunity for businessmen from Gujarat to invest in Tamil Nadu which already has 3000 foreign companies include 577 Japanese firms, 200 South Korean, 250 from USA, 65 from France and 65 from Germany,” Shankar said

“A lot of synergies is also possible between Tamil Nadu and Gujarat. For instance, we have very good educational institutes and the high quality of manpower we produce can be used by industries in Gujarat,” he added.

The official also listed out “focus sectors” like aerospace, biotech, pharmaceuticals, solar power and others that Tamil Nadu government would want to promote through this investment summit. “We would like to learn from other states and make our state a favourable investment destination,” Shankar remarked adding that his government has targeted to bring in Rs 1 lakh crore of investments through the investors’ summit in May.

“We want all of the Rs 1 lakh crore of investments to come from Gujarat, but that will be a very high order,” the official said jocularly. Countries like Japan, France and UK has confirmed to be partners for the event in Tamil Nadu, while others like Israel, South Korea, Malaysia and Singapore are expected to join in as partner countries for the event, officials added.

Tamil Nadu government has already organised roadshows in Bangalore, Hyderabad and Delhi and they will head towards Pune, Mumbai and Kolkata in the coming days. The state government officials have also visited countries like France, UK, Japan, South Korea, Taiwan, Germany, USA, Singapore, Malaysia, and Canada to attract investments to Tamil Nadu.

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