TN CM reaches out to MNCs like Apple, Amazon for investment

Tamil Nadu Chief Minister K. Palaniswami has written to the heads of 13 multinational companies (MNCs) in the electronics sector to invest in the sourthern state.

In a statement issued here, the government said Palaniswami wrote to the heads of 13 MNCs, including Tim Cook, President and Chief Executive Officer (CEO) of Apple; Kim Hyun Suk, President and Chief Executive Officer, Samsung; Jeff Bezos, CEO, Amazon; and Enrique Lores, President and CEO of HP.

The letters outline the investment attractiveness and inherent advantages of Tamil Nadu and excellent support for business and industry to further their growth and promises a customized incentive package as per their requirement.

Due to the coronavirus impact on the world economy, many overseas industries are likely to exit from certain countries and relocate their manufacturing to countries like India.

Palaniswami has constituted a special Investment Promotion Task Force for attracting such investments.

Recently, Tamil Nadu signed investment MoUs with 17 foreign companies totalling Rs 15,128 crore.

—SME Times