More Japanese firms in TN? Jaya to sign MoUs

Chennai, Feb 13: Tamil Nadu Chief Minister Jayalalithaa, on Monday, said that her government is willing to sign an agreement with some major Japanese companies as the state wants more investment in production bases.

While inaugurating a factory of Toshiba JSW Turbine and Generator Private Limited, Jayalalithaa said, "Japanese companies have been evincing interest, mainly in the manufacturing sector...The auto sector accounts for about 60 per cent of Japanese FDI in Tamil Nadu.I am confident Chennai will emerge as the world's largest auto cluster."

Over 1,422 Japanese firms are there in India out of which around 286 are in Tamil Nadu. Jayalalithaa claimed that over 20.11 percent of the total number of bases is the largest share.

"I am glad Japanese investors are increasingly looking at Tamil Nadu as an attractive investment destination.

"A favourable investment climate with relatively cost effective and high quality infrastructure offer the ideal platform for foreign investors to establish their production base in Tamil Nadu. Site evaluation studies of Nokia, Nissan, Daimler, World Bank, Ford, Hyundai, Saint Gobain, Stanchart, and Xansa have found Tamil Nadu to be the destination of choice for Japanese investors," she said.

OneIndia News