Chennai: Tamil Nadu, being the largest automobile manufacturer in India and the third-largest FDI destination, the focus will be to improve the performance of the state in areas like defence, aerospace, and pharmaceuticals.
“We contribute towards 30-40 per cent of the automobile manufacturing that happens in the country, and over 60 per cent in exports,” said C.V. Sankar, additional chief secretary, Industries. “Drawing both the countries closer in the sector of the aerospace will be the new aerospace centre near Oragadam,” he added.
“Ranking third in industry among the states of the country, skilled manpower, competitive costs, modern seaports, proactive government policies, and single window clearance system have accelerated the development and made the state a good platform for global trade relationships,” M.C. Sampath, minister for industries, Government of Tamil Nadu said.
Companies such as Larsen & Toubro and Ford are planning to invest further in the state, to further give a boost to the manufacturing sector. Phillip A. Min, Consul General, American Consulate, Chennai, said that bilateral relations between USA and India can be seen in spheres like sharing of military strategies and equipment.
“$500 billion is a goal that could only happen through facilitating greater investment in both directions and opening new Indian structures to private investment to enable trade between the countries,” he added.
