Tamil Nadu Cabinet clears investments worth INR 6,000 crore

Rutuja Kedare Jul 24, 2023 0

On Saturday, 24 July, the Tamil Nadu Cabinet approved 10 investment proposals worth INR 6,000 crore in various sectors, with a focus on creating job opportunities for 27,000 people. The investments will be made in the electric vehicles (EV) and Global Capability Centres (GCC) sectors, along with other segments.

Among the approved proposals, two are in the EV segment, three are in general manufacturing, two GCCs for research and development (R&D) purposes, two are in the textile sector, and one is in electronics.

Key Apple suppliers, namely Salcomp (electronics), Schneider (general manufacturing), and United Parcel Service (GCC), are among the companies planning investments or expansions that received the Cabinet’s approval. Additionally, FMCG major Godrej Consumer Products Limited (GCPL) got the green light for its proposal to establish a plant in Chennai with an investment of INR 300 crore.

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