CHENNAI: Industries Minister S Keerthana on Monday alleged corruption and delay in approvals have driven 25 industrial investment projects from Tamil Nadu to seven other states during the previous DMK regime.
As a result, the state has lost investments worth Rs 3.3 lakh crore, which were estimated to generate 2.03 lakh jobs. Rejecting allegations that the state had recently lost investments to neighbouring states, she maintained no new investment project has moved out of TN in the past 40 days.
Speaking to reporters, Keerthana said in 2024, Tata Electronics’ semiconductor fabrication (fab) project, Micron Technology’s ATMP project and Suzuki Motor’s automobile projects moved to Gujrat.
“Similarly, the JSW Group’s electric vehicle battery and smelting project shifted to Odisha and Toyota Motor’s project went to Maharashtra. These five projects shifted between 2024 and 2025 alone during DMK regime due to corruption.”
She said the TVK government had taken steps to revive the investment plans of Hyundai Motors, which had been on the verge of shelving its earlier proposal. “The government is also in talks with two companies - Motilink and Yusane - to sign MoUs for fresh investments,” she added.
Keerthana also responded to allegations that three companies — Apollo Tyres, Royal Enfield, and Adani Green Energy — were shifting their investments to other states.
Addressing concerns over Apollo Tyres, she said the company is currently planning two new projects in India, one of which is proposed near Sri City in Andhra Pradesh on land already owned by the company. “The state government was informed about this project in February this year, and it is not a new development,” Keerthana said.
On Royal Enfield, Keerthana noted the company operates four manufacturing plants and a research and development facility in Tamil Nadu. “The decision to establish a manufacturing unit outside Tamil Nadu is part of the company’s risk diversification strategy,” she said. Regarding Adani Green Energy, she said the hydro-storage project for which an investment agreement was signed during the Global Investors Meet 2024 remains firmly committed to Tamil Nadu.
