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Tamil Nadu emerges as a most preferred investment destination for Japan
Mar 05, 2013

“Tamil Nadu has outperformed the rest of the country in the automotive sector and emerges as a most preferred investment destination for Japanese investment in the automotive sector”, said Mr. L Ganesh, Past Chairman, CII - Southern Region & Chairman, Rane Group in his address at the Seminar on ‘Tamil Nadu - A Potential Investment Location for Automotive Related Industry’ organised by the Confederation of Indian Industry (CII) in association with Japan External Trade Organisation (JETRO) here today.

Tamil Nadu, with a thriving auto industry ecosystem, supported by investor friendly policies and availability of high quality engineering talent continue to attract global investment in the automotive sector, said Mr Ganesh. India is home to 1804 Japanese companies, out of which 344 firms are in Tamil Nadu. The auto sector accounts for about 60 per cent of Japanese FDI in Tamil Nadu, he added.

Ms Pooja Kulkarni, IAS, Joint Secretary to Government, Industries Department, Government of Tamil Nadu, said, “Tamil Nadu has been one of the fast developing States in India. With a large middle class and youth population in the country, the automotive sector is poised for an exponential growth and Tamil Nadu would play an active role in this growth story, she said.

Mr. M. Velmurugan, IES, Executive Vice Chairman, Guidance Bureau, Government of Tamil Nadu in his address said, “Tamil Nadu and Japan enjoy special relationship and Japan emerged has one of the major investor in the State. Indian market will be the third largest market in another 4 years in the automotive segment. Tamil Nadu with its huge ports infrastructure, Chennai in particular with three major ports has emerged as an ideal investment destination for automotive sector, he said.

During the welcome address, Mr. Soichi Yoshimura, Executive Vice President, JETRO said, “Tamil Nadu has attracted large number of Japanese visitors in the last few years seeking opportunities in diverse sectors including automobile, engineering and machinery, electronics, logistics, infrastructure, trading, IT and IT-enabled services.

Mr. Masashi Iwanaga, Director, Financial Cooperation Division, Ministry of Economy, Trade & Industry (METI) during his address had said, “There is lot of investement potential identified in the southern market especially in Chennai and Bangalore. The Japanese interest in India was owing to its strong economic fundamentals, a large and expanding market, skilled human resources, and the facilities for exports to across various continents, he said. Mr. Hajime Sato, Director, Overseas Investment Division, JETRO and Mr Shinya Fujii, Director General, JETRO, Chennai also spoke at the conference.

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