<p>Tamil Nadu on Monday signed Memorandum of Understanding (MoUs) with 14 companies for setting up their manufacturing facilities in the state bringing an investment of Rs 10,00 crore. </p>.<p>The new investments which have been promised even as the state battles the Coronavirus pandemic with over 6.5 lakh cases, promises to generate employment opportunities for over 7,000 people.</p>.<p>Some of the major projects include those relating to renewable energy by JSW Energy at an investment of Rs 6,300 crore in Tuticorin, Tenkasi, Tirunelveli, Ramanathapuram, and Tiruppur districts that would provide employment opportunities to 2,420 people.</p>.<p>Hiranandani group's Greenbase Industrial Parks would set up an industrial logistics park at Oragadam near here at an estimated cost of about Rs 750 crore, the government said.</p>.<p>In a statement, Chief Minister Edappadi K Palaniswami said the state has so far inked 56 investment pacts totally worth Rs 41,519 crore till date from April during the Covid-19 pandemic.</p>.<p>The investments have come at a time the Tamil Nadu government is working hard to woo companies that plan to move its facilities out of China and shift to India to come and invest in the state.</p>.<p>The government has already constituted a Special Task Force headed by Chief Secretary K Shanmugam to attract new investments from companies that are likely to exit from “certain countries” and relocate their manufacturing bases in countries like India to “diversify” their supply chain.</p>.<p>Tamil Nadu is one of the leading destinations for Foreign Direct Investments (FDI) into the country, having attracted USD 29,848 million in FDI from April 2000 to March 2019. According to figures released by the government, Tamil Nadu had retained its position by attracting USD 2,613 million during 2018-19. It is also the third-largest exporter of goods in the country.</p>
<p>Tamil Nadu on Monday signed Memorandum of Understanding (MoUs) with 14 companies for setting up their manufacturing facilities in the state bringing an investment of Rs 10,00 crore. </p>.<p>The new investments which have been promised even as the state battles the Coronavirus pandemic with over 6.5 lakh cases, promises to generate employment opportunities for over 7,000 people.</p>.<p>Some of the major projects include those relating to renewable energy by JSW Energy at an investment of Rs 6,300 crore in Tuticorin, Tenkasi, Tirunelveli, Ramanathapuram, and Tiruppur districts that would provide employment opportunities to 2,420 people.</p>.<p>Hiranandani group's Greenbase Industrial Parks would set up an industrial logistics park at Oragadam near here at an estimated cost of about Rs 750 crore, the government said.</p>.<p>In a statement, Chief Minister Edappadi K Palaniswami said the state has so far inked 56 investment pacts totally worth Rs 41,519 crore till date from April during the Covid-19 pandemic.</p>.<p>The investments have come at a time the Tamil Nadu government is working hard to woo companies that plan to move its facilities out of China and shift to India to come and invest in the state.</p>.<p>The government has already constituted a Special Task Force headed by Chief Secretary K Shanmugam to attract new investments from companies that are likely to exit from “certain countries” and relocate their manufacturing bases in countries like India to “diversify” their supply chain.</p>.<p>Tamil Nadu is one of the leading destinations for Foreign Direct Investments (FDI) into the country, having attracted USD 29,848 million in FDI from April 2000 to March 2019. According to figures released by the government, Tamil Nadu had retained its position by attracting USD 2,613 million during 2018-19. It is also the third-largest exporter of goods in the country.</p>
