Chief Minister Edappadi K. Palaniswami has written to five global consumer goods companies inviting them to explore opportunities in Tamil Nadu which has an “excellent ecosystem” for manufacturing of consumer goods.
In a tweet on Friday night, the Chief Minister said he has personally written to companies such as Kate Spade, Fossil Group, Nike, Adidas AG and Mattel Inc. to look at opportunities to set up their manufacturing units in the State.
The Industries Department, in a press release, said the Chief Minister has written directly to Liz Fraser, CEO of Kate Spade; Kosta Kartsotis, Chairman of Fossil Group; John Donhoe, CEO of Nike; Kasper Rorsted, CEO of Adidas AG and Ynon Kreiz, CEO of Mattel Inc.
The letters outline the investment attractiveness and inherent advantages of the state of Tamil Nadu and the facilitation support provided for business and industry to further their growth and a promise a customised incentive packages as per their requirements.
Due to the impact caused by COVID-19 to the world economy, many overseas industries are likely to exit from certain countries and relocate their manufacturing activities in countries like India. “The proactive steps taken by the government are already showing results as evidenced by the fact that the State could recently sign MoUs with 17 foreign investments for ₹15,128 crore. This shows that Tamil Nadu is the best destination for investment even in this pandemic situation,” according to the Industries Department release.