Chennai: Seeking to tap more Japanese FDI in manufacturing and infrastructure sectors, Tamil Nadu Chief Minister Jayalalithaa on Sunday said her government would soon sign agreements with some major Japanese companies, which are
considering substantial investments in the state.
"Japanese companies have been evincing interest, mainly
in the manufacturing sector...The auto sector accounts for
about 60 percent of Japanese FDI in Tamil Nadu. I am confident
Chennai will emerge as the world`s largest auto cluster," she
said after inaugurating a factory of Toshiba JSW Turbine and
Generator Private Limited near here.
Noting that 1,422 Japanese companies have operational
bases in India, of which 286 are in Tamil Nadu, she said
Chennai today has 20.11 percent of the total number of bases,
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.
On infrastructure problems, particularly connectivity
bottlenecks to Ennore Port currently faced by Toshiba and
Nissan, she said her government is taking steps to solve these
Port connectivity related issues expeditiously.