Tamil Nadu is likely to attract investment worth Rs 20,000 crore in the next six months with nearly 15 companies — many of them of the 'Fortune 500' list — expected to announce their plans to set up manufacturing facilities, according to a senior State Government official. "They are all big ticket companies," the official said without giving any names. "Each day one big company is visiting us to explore the possibility of setting up a facility in the State," said Mr M. Velmurugan, Executive Vice-Chairman, Guidance Bureau, Industries Department, Government of Tamil Nadu.
"We are consolidating our position as a major manufacturing hub in the long-term" he told newspersons on the sidelines of a seminar on Hamriyah Free Zone – Endless Opportunities for Business Sustainability, organised by the Confederation of Indian Industry.
Earlier addressing the seminar, Mr Velmurugan said according to a recent report released by the Centre, Tamil Nadu was ranked third in attracting foreign direct investment. There are nearly 3,000 foreign companies, including Fortune 500 such as Ford, Hyundai, Nokia and Foxconn, operating in the State.
Tamil Nadu, with around 26,000 units, was ranked as number one in terms of the number of factories. The State was also ranked number one in employment in the factories with around 1.77 million people. The State is also the automobile hub of the country manufacturing nearly 1.5 million cars a year and nearly 360,000 commercial vehicles a year, he said.
Tamil Nadu is ranked third with 93 Special Economic Zones (SEZs) of which 62 are operational. Further, 71 SEZs are in the approval stage, while 19 have got in-principle approval from the Government. There are 36 information technology SEZs in the State, he said.
Mr Velmurugan said two companies — ETA Group and EMAAR — based in the UAE have set up their IT SEZs in the State and there is scope for many others,
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