Palaniswami pitches for US investments in Tamil Nadu

As the US companies look to relocate their hubs from China to India, Tamil Nadu Chief Minister Edappadi K Palaniswami highlighted his state's investment policies and initiatives to attract the American businesses to invest, innovate and create in the state in areas such as aerospace and defence.

Palaniswami addressed an investors meet here Tuesday hosted by the Consulate General of India in New York and the US India Strategic Partnership Forum and invited the US investments in a plethora of sectors such as aerospace, defence, automobile, IT and energy.

"Conducive business environment and various incentives like tax refunds, capital subsidies, highly skilled manpower, power supply, state of the art infrastructure facilities and reputation for efficiency has made Tamil Nadu investors' choice," Palaniswami said in his address to investors.

Referring to the Global Investors Meet in his state earlier this year, Palaniswami said Tamil Nadu attracted investment commitments of about 43 billion dollars through more than 300 MoUs, adding that "this has been possible only because of the favorable eco system in the state and continuous support from the government."
"I am specifically referring to China. There is lot of interest in companies in the US to relocate their manufacturing and businesses into India. The Government of India and Tamil Nadu is rolling out the red carpet to invite investors who are wanting to relocate, part of their business or their whole business into India," he said adding that in such a scenario, "Tamil Nadu is the state to look at."