Tamil Nadu Govt’s Sweet Revenge On AP In Investment Fight

Andhra Pradesh IT Minister, Nara Lokesh has been repeatedly emphasising the need for healthy competition between Indian states when it comes to inviting investment. This is exactly the case if we look at the latest scenario involving to South Indian states of Andhra Pradesh and Tamil Nadu.

Earlier Andhra Pradesh was very successful in securing three Korean automotive companies that were originally supposed to go to Tamil Nadu.

After successful negotiations, the government of Andhra Pradesh was able to lure these three Korean companies to invest around ₹1300 crore in the automitive sector in the state.

Now it appears that Tamil Nadu has gotten its sweet revenge by gaining the upper hand in inviting a major renewable energy production unit to their state.

Going into the story, Brazilian Industrial and Electric company WEG is likely to invest 2,000+ Crs for it’s Global Manufacturing Campus at Dharmapuri, Tamil Nadu. The firm has acquired a massive 98 acres here and it is reported that Tamil Nadu is reportedly said to have beaten Andhra in this investment.

On paper, this competition might look fierce and competitive. But at the end of the day, it is very good to see to South Indian states, showing such fighting spirit when it comes to invite investments.

This is the kind of positive friendly fire that is needed to have a positive outlook of major investments in India and these two south Indian states appear to be showing the way.