Stalin invites investment in aerospace, biotechnology, pharma

CHENNAI: Chief Minister MK Stalin on Tuesday invited industry captains in Spain to invest in aerospace and defense, biotechnology, pharmaceuticals, food processing and desalination in Tamil Nadu.

Speaking at the investors conclave titled "Tamil Nadu Investors First Port of Call" organized by his government at Spanish capital Madrid, Stalin said that Spain, which is the fourth largest economy in the European Union and home to eight "Fortune 500" and 20 "Fortune 2000" companies, was the sixth largest European country to have trade ties with Tamil Nadu.

Suggesting several links between Spain and Tamil Nadu economies, the CM referred to the Spanish firms like Roca, Urbaser and Gestamp already functioning in India and said, "I have come here to invest in Tamil Nadu and strengthen the economic ties." Claiming that investment made by over 130 "Fortune 500" firms in Tamil Nadu was proof of a conducive investment climate in the state, the CM said that Spanish firms must also set up shop in Tamil Nadu.

Reasoning that Tamil Nadu was a leader in automobile, mainly EV manufacture, electronic, leather and non-leather goods, information technology and renewable energy, the CM said that investors from Spain must invest in aerospace and defense, biotechnology, genetic engineering, pharmaceutical, food processing, desalination and water treatment in Tamil Nadu. Asserting that the Tamil Nadu government was waiting to extend all possible support to the investors, the CM said that besides offering skilled human resource and conducive climate to invest in various sectors, various industry specific policies of the government would offer various concessions to the investors.

Recalling his early business tours to UAE, Japan and Singapore which fetched investment, Stalin referred to his scheduled visit to US and Australia next and said that about nine countries like US, UK, Singapore, Japan, Korea, France, Germany and Australia partnered with the TN government during the two-day Global Investors Meet held from January 7.