TN expects Rs 1 lakh cr investment from Global Investors Meet

The Tamil Nadu government today said it hopes to attract an investment worth Rs 1,00,000 crore from the Global Investor's Meet, which has been rescheduled for September.
The meet was to be held on May 23 and 24 and now postponed to September following requests from overseas investors, who sought more time to finalise the projects.
"We hope an investment of Rs 1,00,000 crore or (USD 16 billion) from this meet. We have good potential from both domestic and international companies," Tamil Nadu additional chief secretary C V Sankar said here today after a roadshow.
Out of this, FDI would be of USD 5 billion, he said.

Several foreign countries were likely to be partners for the meet, but Japan was more enthusiastic about further investment in the state, he said.
According to a survey by the Japanese Development Bank, India has topped the chart as investment destination both in short and long term, Sankar said.

Secondly, a 1,500 acre industrial park named OneHub was mostly used as Japanese investment destination, he said adding, manufacturing would remain the state's focus area.
He said Tamil Nadu has enough land for investors with a land bank of 4,000 acres and several industrial parks were coming up across the state.

Sankar said the state has proposals worth Rs 76,000 crore in the pipeline, of which investments worth Rs 52,000 crore was nearing finalisation.
He said the Coca Cola project issue was unlikely to have any negative impact on investments in the state.
Tamil Nadu has cancelled the allotment of 71.34 acres of land for Coca Cola's project in the Erode district, following stiff opposition from local residents, agriculturists and political parties.