Investment Illusions Uncovered: Hyundai Plan on Paper, Not Reality

PMK leader Anbumani Ramadoss claimed that although Hyundai's expansion projects were recently approved by the Tamil Nadu Cabinet, they have yet to materialize, contradicting government claims about the state’s industrial investment success. He alleges only 8.20% of proposed investments since 2021 have been executed.

On Friday, PMK leader Anbumani Ramadoss criticized the Tamil Nadu government, claiming its portrayal of successful industrial investments is an illusion. Specifically targeting Hyundai's expansion projects, Ramadoss pointed out that while the Cabinet has approved these initiatives, no significant steps have been taken towards their execution.

According to the Tamil Nadu Industries Minister's briefing, the Cabinet approved 15 new projects worth Rs 34,237.39 crore. However, Ramadoss argues that this announcement merely glosses over the fact that a minimal fraction of the state's investment promises have been fulfilled.

In response to the claims of substantial investment inflows, Ramadoss highlighted that since 2021, only about 8.20% of the investment agreements have seen real action. Despite promises of Rs 12.16 lakh crore in investments, he stated the reality is starkly different.

(With inputs from agencies.)