Shiv Nadar commits $1 billion investment in Tamil Nadu

CHENNAI: Indian IT major HCL's Shiv Nadar has committed an investment of $1 billion in the next five years in Tamil Nadu. The announcement was made at the recently concluded two-day Tamil Nadu Global Investors Meet (TNGIM) 2015.

TNGIM 2015 took off with a grand start amid much optimism and cheer as the State received investment commitments in excess of Rs 100,000 crore even before the meet formally commenced.

TNGIM was organized with an objective to showcase the strengths of and opportunities in the state for potential investors across the globe and to invite them to participate in the state’s progress towards inclusive growth and prosperity. The two-day meet (September 9 to 10, 2015) was inaugurated by Tamil Nadu Chief Minister Selvi J Jayalalithaa. She was joined by the Minister of State for Commerce and Industry Ms Nirmala Sitharaman, Minister of State for Surface Transport, Highways and Shipping Mr Pon Radhakrishnan, Minister for Industries and Transport for Tamil Nadu Mr P. Thangamani, Ambassadors and High Commissioners of various countries, and delegates from India and abroad.

The nine partner countries were Australia, Canada, France, Japan, Italy, Russia, Republic of Korea, Singapore and the United Kingdom. The State Government was assisted by national trade bodies such as Assocham, CII, FICCI and international organizations such as JETRO, KOTRA, MIBC and UK India Business Council.

The Tamil Nadu Chief Minister also inaugurated three major industrial projects with a total investment of Rs 2,658 crore. TNGIM 2015 featured a total of 25 seminars, specific to attending countries and industry, such as automotive, it hardware, agro, pharma and biotech, textiles, among others. Over 300 exhibitors  participated in the meet.

Tamil Nadu is one of the most urban states in India, with close to half the state’s population living in cities, sustained by the state’s governance and infrastructure that includes the second highest power generation capacity in the country, 20 industrial parks and 78 special economic zones for business and three international airports for global connectivity.