Tamil Nadu gives nod to 10 investment proposals worth Rs 6,000 crore

The Tamil Nadu state government has given its approval to 10 investment proposals worth Rs 6,000 crore, including one of the world’s largest producer of mobile phone chargers Salcomp Plc, which is also a major supplier to Apple.

Earlier this year, the Finland-based company announced an investment plan of Rs 1,800 crore for India over the next three years. This was part of its strategy to expand its presence in electric vehicle (EV) chargers and small solar power inverters, among others.

The proposals approved by the Cabinet include one in electronics, two in the electric vehicle sector, three in general manufacturing, two in textiles, and two global capacity centres.

Other major players reportedly given clearance include Pfizer, Godrej Consumer Products, French flagship Schneider Electric and an electric car investment in the Hosur-Krishnagiri-Dharmapuri (HKD) industrial belt.

Currently, the top three e-wheel players – Ola Electric, TVS Motor and Ather Energy – are based in the Krishnagiri district. Two in Hosur and one in Pochampalli.

In addition to the top three, at least five original equipment manufacturers (OEMs), including Ashok Leyland and scooter maker Simple Energy, are either preparing their own EV units or have already started manufacturing at their facilities in the region.