Tamil Nadu Eyes 250 Billion USD Investment for Infrastructure Development

Tamil Nadu Chief Minister J Jayalalithaa announced that the state had set an investment target of 250 billion USD in the infrastructure sector in the coming years. She was addressing the state’s first global investors meet in Chennai.

Highlighting the industry-friendly policies of her government, Jayalalithaa said that investment in Tamil Nadu is a sound investment.

She also said the government's focus is on drawing investment for projects that will generate jobs in the state.

Around 5,000 delegations including foreign companies from Japan, UK, Australia, Canada, France, Italy, Korea, Singapore and France and Indian delegates participated in the first Tamil Nadu global investors meet in Chennai.

The objectives of the mega event is to build the brand equity of Tamil Nadu globally, to showcase the unlimited advantage of the state as the leading and preferred investment destination worldwide, to provide a platform for networking on investment and growth opportunities and to showcase the strength and potential of the state.

The focus sectors are textiles, biotech and pharmaceuticals; food and agri business; aerospace; automobile and auto ancillaries; renewable energy; infrastructure; skill development, chemicals and petrochemicals; IT and ITES; heavy engineering and electronics hardware.

Union minister of state for commerce and industry Nirmala Sitharaman, Minister of State for Road Transport, Highways and Shipping Pon Radhakrishnan, French Minister Paul Hermelin and Ambassadors of various countries were present at the inauguration of the two day event.

Industrialists Reliance Group chief Anil Ambani; Mahindra & Mahindra Chairman, Anand Mahindra; ITC Chairman Y C Deveshwar; HCL founder Shiv Nadar; JSW Steel chief Sajjan Jindal; Adani Group chief Gautam Adani and Indian Oil Chairman B Ashok and Yes Bank Chairman Rana Kapoor, among others, attended the event.

The biggest investor promotion campaign in the state will provide the participants an opportunity to interact and network with the market movers and gain understanding of the investment scenario in India and Tamil Nadu and to interact with policy makers and senior government representatives and thought leaders.