Chennai: Seeking to tap more Japanese FDI in manufacturing and infrastructure sectors, Tamil Nadu Chief Minister Jayalalithaa on Sunday said her government would soon sign agreements with some major Japanese companies, which are considering substantial investments in the state.
"Japanese companies have been evincing interest, mainly in the manufacturing sector...The auto sector accounts for about 60 percent of Japanese FDI in Tamil Nadu.I am confident Chennai will emerge as the world's largest auto cluster," she said after inaugurating a factory of Toshiba JSW Turbine and Generator Private Limited near here.
Noting that 1,422 Japanese companies have operational bases in India, of which 286 are in Tamil Nadu, she said Chennai today has 20.11 percent of the total number of bases, the largest share.
"I am glad Japanese investors are increasingly looking at Tamil Nadu as an attractive investment destination."
"A favourable investment climate with relatively cost effective and high quality infrastructure offer the ideal platform for foreign investors to establish their production base in Tamil Nadu. Site evaluation studies of Nokia, Nissan, Daimler, World Bank, Ford, Hyundai, Saint Gobain, Stanchart, and Xansa have found Tamil Nadu to be the destination of choice for Japanese investors," she said.
On infrastructure problems, particularly connectivity bottlenecks to Ennore Port currently faced by Toshiba and Nissan, she said her government is taking steps to solve these Port connectivity related issues expeditiously.