Chennai Emerges as Asia's Automobile Capital: Karunanidhi

Tamil Nadu Chief Minister M Karunanidhi on Wednesday said Chennai was emerging as the Asia's automobile capital and promised to make it as one of the top the ten centers for automobile manufacturing in the world.

Inaugurating the Nissan India Car Plant here, he said with the establishment of the car project by Renault-Nissan, Chennai has become the home of seven auto majors out of top 20 global automobile manufacturers, adding to the existing facilities by Daimler, Ford, BMW, Hyundai and Mitsubishi.

''Today, Chennai is emerging as Asia’s automobile capital, Mr Karunanidhi said.

Establishment of these automobile projects in Chennai bears ample testimony to the favorable investment climate prevailing in Tamil Nadu,'' he said, adding, with its investor-friendly policies, Tamil Nadu has been a forerunner in attracting a large number of domestic and foreign investors.

Quoting Oxford Analytica, an international independent consulting firm, he said Tamil Nadu was ranked as the most attractive investment destination among 28 states and two Union Territories.

During the last three and half years and despite the recent economic downturn, several industrialists have constantly come forward to make investments in Tamil Nadu.

Mr Karunanidhi further said his government had signed 25 MoUs and issued orders for another 12 industries since May 2006. ''Total investment in these 37 industries will be about Rs 46,091 crore and they will create employment potential for 2.22 lakh people directly and indirectly.'' He said despite Chennai emerging as the largest automobile hub of India, it was lacking vehicle testing facilities, forcing the auto manufacturers to send their vehicles to Pune for testing and certification.

Thanks to the initiative of the DMK government, the Centre was implementing the National Automotive Testing Research and Development Infrastructure Project (NATRIP) at Oragadam near the city at a cost of about Rs 450 crore and the State had allotted 300 acres land for it, Karunanidhi added.

''This project aims at facilitating introduction of world-class automotive safety, emission and performance standards in India and also ensuring seamless integration of our automotive industry with the global industry,'' he said.

The Chief Minister said considering the multiplier-benefit arising out of automobile projects, the DMK Government would continue to attract more automobile projects in the State to realize his dream of making Chennai as one of the top ten centres for automobile manufacturing in the world.

- Asian Tribune -