CHENNAI: A recent study has put Tamil Nadu at the top of the country when it comes to attracting businesses, as it had secured investments worth Rs 1,43,902 crore from April-December 2021, a State government statement said on Monday.
The statement cited a report by Projects Today which called Tamil Nadu India’s most attractive business destination. The State had roped in investments for 304 projects, including from big guns such as Tata Group, JSW Renew, Hindustan Unilever, TVS Motor, Adani group and Larsen & Toubro. This is a leap from the same period (April-December) last year when the State had brought in investments worth Rs 36,292 crore, reporting a net gain of Rs 1,07,610 — the highest in the country, the statement said.
Gujarat, with net gain of Rs 77,892 crore and Telengana with Rs 65,288 crore, were named second and third by the report. The DMK government had released policies for sectors such as FinTech, MSMEs and data centres after it came to power in May.
Further, the statement quoted Industry Secretary S Krishnan as saying that the feedback from companies was that the State’s strong policy and the ability to resolve problems immediately have helped in securing investments. Further, he attributed the success to quick decisions regarding issues such as incentives, especially during the pandemic.
“The State would continue its initiatives with regards to ease of doing business in biotechnology, medical equipment manufacturing and renewable energy,” the statement said. The statement also quoted CK Ranganathan, chairman and MD, CavinKare, as saying that the State has earned the trust of global investors, proving the strength of the political and bureaucratic set up of the State.
Minister’s invite to Elon Musk
Minister for Industries Thangam Thenarasu on Monday tweeted to Elon Musk inviting him to set up manufacturing units for Tesla cars in the State. “Tamil Nadu accounts for 34% of the total planned investments for electric vehicles. Tamil Nadu is also one of the top nine renewable energy markets in the world,” he tweeted.