Tamil Nadu secures ₹12,300 crore investments during CM Vijay's overseas visit

The Tamil Nadu government has signed multiple investment agreements worth over ₹12,300 crore during Chief Minister C. Joseph Vijay's maiden official overseas trip, aimed at generating nearly 10,000 employment opportunities across manufacturing, technology and engineering sectors.

Major manufacturing investment from Samvardhana Motherson

The largest agreement involves Samvardhana Motherson International Limited and its European and U.K.-based joint venture companies, committing approximately ₹11,000 crore to the state. According to an official release, this investment will create employment opportunities for around 7,000 people across sectors including design, engineering, manufacturing, assembly and logistics facilities. Barry Painter, global head, marketing and communications, Samvardhana Motherson International Group, exchanged the MoU with Deepak Jacob, managing director, Guidance Tamil Nadu.

Ernst & Young to establish Global Capability Centre

The state government also signed an MoU with Ernst & Young, headquartered in the United Kingdom, to facilitate the establishment of a Global Capability Centre in Tamil Nadu. The agreement involves an investment of around ₹1,000 crore aimed at creating 2,000 high-value jobs. The proposed GCC will be located in the newly announced 'GCC corridor' on Mount-Poonamallee Road in Chennai, the release said.

Expansion plans for Swedish technology firm

Sweden-based Sigma Technology Group has signed an MoU with the Tamil Nadu government, committing to expand its GCCs in Tiruchi and Chennai through its Indian entity, Zriya Solutions, with the aim of creating 600 high-value jobs in the areas of embedded systems, electrification and industrial digitalisation. Michael Carlson, founder and chief executive officer of Sigma Technology Group, and Krishna Radhakrishnan, chief executive officer, Zriya Solutions (a part of Sigma AB Private Limited), exchanged the MoU with Mr. Jacob, said the release.

Manufacturing boost in Tiruvallur district

Another MoU was signed with Wilson Power Solutions for the next phase of growth of the electrical and electronic equipment manufacturing sector in the State, involving an investment of ₹300 crore in Tiruvallur district and creating 400 new jobs. Hari Krishna Malepati, group technical director of Wilson Power Solutions; Dennis Sorby, group finance director; Kumaran Periasamy, High Commissioner of India to the United Kingdom; and senior government officials were present, the release added.

Mr. Vijay is in London on his first official overseas visit, "with the aim of attracting investments to Tamil Nadu".

Source: The Hindu