“Chennai accounts for 60% of the country‘s automotive exports and is rightly nick-named ‘the Detroit of Asia’. Two major industrial locations near Chennai – at Sriperumbudur and Oragadam – have seen large-scale investments from major auto manufacturers such as Renault Nissan, Daimler and Yamaha.
The presence of two ports in Chennai and Ennore makes this city a veritable industrial hotbed. Chennai also has one of the pioneering, world-class private integrated industrial parks in the country. Mahindra World City, Chennai is spread over 1,500 acres and more than 55 manufacturing players like BMW, Fujitec Elevators and TVS Timken are operating from there.
More recently, privately-developed industrial park christened ‘Sricity’, located around 90 kms north of Chennai in the state of Andhra Pradesh, has seen a host of industrial investments that are leveraging on this industrial park’s proximity to Chennai and its excellent infrastructures. Some of major industrial players who have committed investment in Sricity include Isuzu, PepsiCo, Cadbury, Colgate Palmolive, Kellogg’s and Unicharm, to name just a few.
Overall, Tamil Nadu has been proactively attracting significant industrial investments into the state – over the last three years, the state government had signed 33 MoUs (Memoranda of Understanding). In total, the investment was to the tune of Rs 46,602.72 crore and attracted 68 projects.
The state is renowned for the large-scale incentives it offers to industries setting up their manufacturing plants in lesser developed areas of the state. Because of the increasing scarcity of land near Chennai, the Tamil Nadu state government has now launched a land acquisition process for over 9,000 acres to accommodate eight new industrial complexes across the state.”