MNCs opt for TN due to strong leadership and efficient bureaucracy: Venu Srinivasan

Chennai, Jan 7 (PTI) Several multinational companies chose Tamil Nadu to set up their base because of the good political leadership the state offers and an excellent bureaucracy, Venu Srinivasan, the Chairman Emeritus of two and three wheeler major TVS Motor Company said on Sunday.

Delivering his address at the inaugural Global Investors Meet 2024 organised by the Tamil Nadu government, he said the vision of Chief Minister M K Stalin to make the state a USD 1 trillion economy by 2030 would be ‘definitely achieved.’ “GIM 2024 is another important landmark in the series of GIMS that we have been having. We are one of the best performing states in the country and I am very proud to say this as a Tamizhan,” he said.

Today’s GIM is third edition of the event by a state government while past Global Investors Meets were conducted by the then AIADMK government in 2015 and 2019, respectively.

“Our Chief Minister has an ambitious goal to make Tamil Nadu a trillion dollar economy. I am sure with his leadership, and his drive that this (target) will be definitely be achieved and surpassed.” Buttressing his point as to why Tamil Nadu has a conducive investment climate, Srinivasan said, “there are three reasons for it — We have a very good political leadership, an excellent bureaucracy, peaceful law and order, highest skilled labour and engineers.” “it is because of these reasons, leading companies in India and multi-nationals have all made Tamil Nadu as their destination, “ he noted.

Pointing to the investments attracted by the state in the last 2 years, he said the government has raked in Rs 2.70 lakh crore worth investments by signing 221 memorandum of understandings with companies with potential employment creation of four lakh people.

“GIM2024 provides an ideal platform to showcase the strengths and opportunities available (from Tamil Nadu) to the industry, to come here, set up base and grow. I am confident that this GIM will catapult Tamil Nadu to a greater orbit.” he added. PTI