CHENNAI: Tamil Nadu chief minister C Joseph Vijay’s first foreign trip has turned out to be a successful one in promoting the state as a major investment and industrial growth centre, the state govt said in a statement issued after he returned to Chennai on Wednesday.The CM’s six day London visit opened up several follow-up business opportunities apart from the investment commitments already announced, according to the statement from the govt.Guidance-Tamil Nadu and senior govt officials held discussions with 10 leading companies and five stakeholders from sectors including aerospace and defence, chemicals, logistics, construction, financial services, retail and legal services.The discussions could lead to raw-material procurement agreements between British trading companies and Tamil Nadu textile and garment manufacturers.An UK aerospace and defence delegation is expected to visit Hosur, while an NEMSA delegation is scheduled to visit Chennai in October. The state is also looking at skill-development partnerships in financial services and a UK trade and export workshop later this year, further said the statement.A leading European auto-component manufacturer has expressed interest in setting up its first new manufacturing plant in India in Tamil Nadu. The company submitted an LOI for a proposed Rs 3,000 cr investment, with Tamil Nadu as its preferred location.The CM assured the company of his govt’s support and cooperation.The Hinduja Group also reiterated its commitment to continuing investments and expanding its business in Tamil Nadu. Group chairman Dheeraj Hinduja and other senior executives discussed the progress of the Rs 2,500 cr MoU signed at the ‘VETTRI’ Tamil Nadu Investors Meet in August.The group also expressed interest in increasing investments in renewable energy, particularly wind power, and discussed ways to increase exports of commercial vehicles manufactured in TN.During the visit, Vijay also highlighted the opportunities emerging from the India-UK Comprehensive Economic and Trade Agreement (CETA) and urged companies to use the agreement to expand investment, trade, raw-material procurement and business cooperation with Tamil Nadu.The govt would prepare a report identifying opportunities for Tamil Nadu under CETA, said the statement.The state had earlier announced MoUs and an LOI involving Rs 15,300 cr in investments and more than 10,000 direct and indirect jobs during the visit.
