The Tamil Nadu government on Thursday invited top auto companies to invest in the state and promised suitable incentive packages for them.
Chief Minister K Palaniswami, after inviting electronic major Samsung, e-commerce giant Amazon and technology major Apple recently, on Thursday wrote to top executives of automobile companies, including Mercedes Benz, Skoda Auto, BMW, General Motors and Tesla, inviting them to set up shop in the state.
According to an official release, Palaniswami in his letter to the top industrialists "outlined the investment attractiveness and inherent advantages of Tamil Nadu." He also promised to come out with a "customised incentive package" as per their requirement. The state government recently constituted a 'special investment taskforce' under Chief Secretary KShanmugham to attract investments from various companies following the impact caused by COVID-19 pandemic to the global economy as companies may exit from countries and relocate their manufacturing activities in India.
Recently, the Tamil Nadu government had signed a memorandum of understandings with various companies amounting to Rs 15,128 crore. Tamil Nadu is already home to several auto companies which have set up a manufacturing base in the state and Chennai is dubbed as the 'Detroit' of South Asia having the presence of auto companies like Hyundai, Ford Motor, BMW, Renault and Nissan in its vicinity.