E-Paper
Vijay's UK trip brings over ₹12,300 crore investment commitments, 9,400 jobs to Tamil Nadu
The investment push aims to make Tamil Nadu a leading hub for advanced manufacturing in Asia and is expected to create more than 9,400 jobs across the state.
Prefer HTon Google
Tamil Nadu Chief Minister Vijay, who is currently on a UK visit, witnessed the signing of several MoUs in London on Monday for investments reportedly worth over ₹12,300 crore.
The investment push aims to make Tamil Nadu a leading hub for advanced manufacturing and technology in Asia. It is expected to create more than 9,400 high-value jobs across the state.
The biggest investment commitment came from auto component company Samvardhana Motherson International Limited. Along with its European and UK-based joint venture partners, the company signed an MoU with Guidance Tamil Nadu to invest around ₹11,000 crore over the next five years, news agency PTI reported.
Deep Dive
As part of the project, Motherson will set up integrated design, engineering, manufacturing, assembly and logistics facilities at various locations across Tamil Nadu and is expected to create nearly 7,000 jobs alone in advanced engineering and supply chain operations.
The investment drive also covered digital infrastructure, technical consultancy and heavy equipment manufacturing.
Professional services firm Ernst & Young (EY) committed ₹1,000 crore to establish a Global Capability Centre in Tamil Nadu. Swedish technology company Sigma Technology Group also signed agreements to expand its digital services and engineering operations in Tamil Nadu.
The electrical manufacturing sector also received a boost, with UK-based power equipment maker Wilson Power Solutions signing an MoU to invest ₹300 crore in a new manufacturing unit in Tiruvallur district. The facility is expected to create around 400 local jobs.
The MoU was signed by Hari Krishna Malepathy, Group Technical Director, and Dennis Sorby, Group Finance Director, along with Deepak Jacob, Managing Director of Guidance Tamil Nadu.
Industries minister hails CM Vijay
Industries Minister S Keerthana hailed CM Vijay, saying Tamil Nadu was attracting investments on a large scale under his leadership.
"The Hon'ble chief minister's visit to London has secured strong investment commitments across manufacturing, technology and Global Capability Centres. The ₹11,000 crore investment commitment from Samvardhana Motherson International will create around 7,000 employment opportunities across design, engineering, manufacturing, assembly and logistics," she said.
"The ₹1,000 crore investment from EY towards establishing a Global Capability Centre in Tamil Nadu will create more than 2,000 high-value jobs. Sigma Technology Group is expanding its presence in Tamil Nadu, further strengthening our state's position as a destination for technology and digital services," she said.
"More investment. More jobs. More opportunity. Every investment strengthens our economy. Every job strengthens a family. Every new capability strengthens Tamil Nadu," Keerthana said in a post on X.
‘Tamil Nadu preferred location’
A leading European auto spare parts manufacturer identified Tamil Nadu as its preferred location for a proposed ₹3,000 crore investment in India. The company also submitted its letter of intent to Guidance Tamil Nadu Managing Director Deepak Jacob.
The Tamil Nadu government has assured the company of all necessary support and cooperation to facilitate the investment and establish its operations successfully in the state, according to a government release.
Meanwhile, Ashok Leyland Managing Director Dheeraj Hinduja, Finolex Industries Executive Chairman Prakash P Chhabria and Director Ritu Prakash Chhabria met Tamil Nadu Chief Minister M K Stalin in London on Monday.
During the meeting, Hinduja briefed the Chief Minister on the progress of the Hinduja Group's investments in Tamil Nadu and the steps being taken under the ₹2,500 crore MoU signed at the Vettri Tamil Nadu Investors' Conclave in Chennai in August.
The delegation reaffirmed its commitment to expanding its presence in Tamil Nadu and expressed interest in increasing investments in renewable energy, particularly wind power.
The meeting also focused on boosting exports of commercial vehicles manufactured in Tamil Nadu and further strengthening the state's position as a major export hub for the automotive industry.
The event was attended by Indian Ambassador to the UK Kumaran Periyasamy, Minister (Economic), High Commission of India in London and India-UK FTA chief negotiator Nidhi Mani Tripathi, along with senior Tamil Nadu government officials.
Vijay’s visit invites criticism
However, Vijay’s visit to London invited criticism from Opposition, who questioned the purpose of the trip, saying he only went to attend actor-racer Ajith Kumar’s Le Mans Cup race at Silverstone.
AIADMK general secretary and former chief minister Edappadi K Palaniswami questioned the absence of details about investments during Vijay’s visit.
“The news released through newspapers reported that the chief minister (C Joseph Vijay) had gone to London to attract business investments. However, so far no news regarding attracting investments has emerged. No photographs has surfaced showing him participating in a meeting meant for attracting investments.”
“Instead, photographs of a specific event he attended have come out. That is the actual news,” Palaniswami said.
Vijay, who left for London on September 10 on a week-long visit to attract investments to Tamil Nadu, is accompanied by cabinet colleague Aadhav Arjuna and government officials. He is expected to return on September 17.
(With inputs from PTI)
