6 days ago
T.N. to take steps to increase investments from Germany
Tamil Nadu will take steps to bring more investments from Germany, said Industries MinisterT.R.B. Rajaa on Wednesday.
Speaking virtually at the commissioning of a new manufacturing facility of ZF Group in Coimbatore, he said the ZF Group has made a cumulative investment of ₹2,000 crore at its Coimbatore plant. The district will develop into a top notch global manufacturing centre and the Department of Industries of the Tamil Nadu government is working towards it.
The Minister said he plans to travel to Germany soon to meet the industries there and invite them to invest in Tamil Nadu.
District Collector Pavankumar G. Giriyappanavar said Coimbatore has industries in multiple sectors – automobiles, electric vehicles, foundries, pumps, etc. With the ease of doing business in the State, there are several investments here. The State government is giving great attention to bring investments, especially from Germany, he said.
Deepak Shetty, CEO and Managing Director of JCB India, said Tamil Nadu plays an important role in JCB's growth. The Indian construction equipment industry is poised to become the second largest globally by 2030, he said.
