Tamil Nadu Government will sign a MoU with leading global automobile manufacturers in July, a top government official said.Both these companies will make a total investment of Rs 8,000 crore in the state.
‘The state has a target to attract Rs 30,000 crore investment in this financial year mainly in the automobile and manufacturing sectors.In July, we will sign MoUs with leading automobile manufacturers’ said Mr.M.Farooqui, state industry secretary on the sidelines of the ground breaking ceremony of Renault Nissan Automotive India Project here.
‘Both the companies will set up commercial vehicle production facilities and will invest around Rs 8,000 crore’, he also said.
The investment planned in the current year will generate direct employment to 30,000 and indirect employment for 3 lakh people.On the inflation and recession, Mr.Farooqui said, ‘India’s growth story is intact.Tamil Nadu will have a slightly better than the average Indian growth.The state had attracted Rs 1,700 crore investments in 1991-1996, Rs 3,500 crores in1996-2001 and 2006-07 it was Rs 3,000 crore.To absotb the high growth rate and attract further investment in the state, he said the state has to improve infrastructure.