Tamil Nadu CM invites global e-commerce firms to invest in state

In March, the government had signed a memorandum of understanding with 17 companies which committed investments of Rs 15,128 crore.

The Tamil Nadu government on

Thursday invited global e-commerce majors to set up shop in the state, promising them attractive incentive packages to boost their growth.

Chief Minister K Palaniswami has been writing to top automobile companies, electronics majors and those engaged in aerospace in the recent past about the opportunities available in the state in the wake of the impact caused by COVID-19 on the world economy as companies were likely to exit certain countries and relocate their manufacturing activities in India.

Tamil Nadu has constituted a Special Investment Task Force to attract investments under the leadership of chief secretary K Shanmugham.

In March, the government had signed a memorandum of understanding with 17 companies which committed investments of Rs 15,128 crore.

In its steps to reach out to global industrialists, Palaniswami on Thursday wrote to senior managements of global e-commerce companies inviting them to set up base in the state promising them attractive investment packages.

Palaniswami has personally reached out to five global heads in e-commerce sector --- Rakuten Crimson House CEO Hiroshi Mikitani, B2W CEO Marcio Cruz Meirelles, Sea Ltd (Shoppee) CEO Forrest Li, Qoo10 Pte Ltd Founder Ku Young Bae and Zalando SE Headquarter CEO Robert Gentz, the release said.

The initiatives by the government to attract overseas investors also include setting up country specific investment facilitation desks by the guidance bureau and conducting diplomatic outreach programmes.

The letter to the global heads of the companies by the chief minister outlines the advantages of the state and promises a customised incentive package as per their requirement.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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