TN CM invites chiefs of Amazon, Apple to invest in State

Stepping up its efforts to attract investments in Tamil Nadu, the state government on Friday said Chief Minister K Palaniswami has written to top global leaders of Apple Inc. and Amazon among others inviting them to set up shops in the state promising 'customized incentive package' to them.

The initiative by the government comes in the backdrop of the companies mulling exit from 'certain countries' following the COVID-19 outbreak and relocate their manufacturing bases to countries including India.

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As part of its initiatives to boost the industrial climate in the state, the government recently signed memorandum of understandings with various companies committing investments of Rs 15,128 crore.

An official release on Friday said the government has taken several steps to attract investors across the globe, and the Chief Minister decided to personally reach out to 13 global heads of prominent companies by writing to them.

Some of the top leaders include -- Apple CEO Tim Cook, Samsung President and CEO Kim Hyun Suk, Amazon.com chief Jeff Bezos, and Hewlett-Packard CEO Enrique, the release said.

The letters to the industry leaders outline the advantages of Tamil Nadu offering support for businesses, and also promises a 'customised incentive package' as per the requirement of the companies, the release said.

The Tamil Nadu government already constituted a Special Investment Promotion Task Force under Chief Secretary K Shanmugam to identify potential investors, frame guidelines for expediting single-window clearances, formulate special incentive package among others.

Recently, a top India-centric business advocacy group announced to host a virtual summit to brainstorm how startups can fuel the future of growth and opportunity between India and the United States.

The agenda for annual West Coast Summit by US-India Strategic Partnership Forum (USISPF) focusses on the key pillars defining the US-India economic convergence, specifically how startups, innovation, and entrepreneurship will define the next phase of growth for the bilateral relations, and highlight the unique relationship between Silicon Valley and India, a media statement said.

To be held virtually due to the coronavirus pandemic, the power packed summit would be addressed by India's Ambassador to the US, Taranjit Singh Sandhu, among others.