Taiwan and Tamil Nadu Join Forces for Major Investment Push

The Tamil Nadu government has partnered with Taiwan Chamber of Commerce to establish an 'Indo-Taiwan Industrial Park' near the city. The venture aims to attract Rs 1,800 crore in investments and create 5,000 jobs, focusing on the electronics and footwear sectors to strengthen bilateral economic ties.

Tamil Nadu's commitment to enhancing economic ties with Taiwan took a significant leap forward as the state signed a memorandum of understanding with the Taiwan Chamber of Commerce. Announced on Saturday, this agreement aims to establish the 'Indo-Taiwan Industrial Park' near the city, with a projected investment of Rs 1,800 crore and the creation of approximately 5,000 jobs.

The initiative is part of a broader ambition to attract Rs 10,000 crore in Taiwanese investments, facilitating over 20,000 jobs in sectors such as electronics and footwear. This move underscores Tamil Nadu's strategic direction to bolster its foreign direct investment from East Asia, making it a strong economic pillar in the region.

Industry leaders including Taiwan Chamber of Commerce-India Vice General Simon Lee and Chennai President Eric Chang emphasized the mutual benefits. Chief Minister M K Stalin's proactive governance style is seen as a key enabler in swiftly realizing this ambitious industrial collaboration.

(With inputs from agencies.)