Tamil Nadu is the best state for investment in Asia - Chief Minister M.K. Stalin-Minister Thangam Thanarasu, Additional Chief Secretary S.Krishnan, I.A.S.,.,

The Forecast 2 years ago Tamil Nadu

Mitsubishi Electric India Pvt. Ltd., a subsidiary of Mitsubishi Electric Corporation from Japan and Mitsubishi Electric Asia Pvt. Ltd. from Singapore, participated in the event held in Chennai on behalf of the Department of Industry, Investment Promotion, and Trade in the presence of Chief Minister M.K. Stalin.

An MoU was signed between the Government of Tamil Nadu and Mitsubishi Electric India Pvt. Ltd. for the provision of a structured package of assistance for setting up a manufacturing plant for room air conditioners and compressors at an investment of Rs 1891 crore.

From this,The company will employ more than 2000 people. Also, the Chief Minister of Tamil Nadu laid the foundation stone for setting up a factory of Mitsubishi Electric India Pvt. Ltd. on 52 acres of land at Peruwayal Village, Kummidipoondi Taluk, Thiruvallur District, through a video presentation.

1,891 crore of investment in this project will be done through 100 percent foreign direct investment.

Tamil Nadu is one of the leading states in India in terms of economic and industrial development.

The government is taking various measures to attract multi-purpose projects, create employment opportunities for lakhs of Tamil Nadu youth, strengthen the state economy, and achieve the target of one trillion USD in economic growth in Tamil Nadu by 2030 set by the Chief Minister of Tamil Nadu.

224 investments worth Rs. 2,73,448 crore have been confirmed since the government assumed responsibility, providing employment to 4,10,561 people.

Mitsubishi Electric India Private Limited is a Japanese subsidiary of Mitsubishi Electric Corporation, a global leader with unparalleled expertise in power and electrical systems, industrial automation, information and communication systems, home appliances, and electrical and electronic equipment manufacturing.

Mitsubishi Electric's factory located in Tamil Nadu will be the first room air conditioner manufacturer in India and the seventh country in the world to manufacture air conditioners after Japan, Thailand, China, England, Turkey, and Mexico.

It will also be Mitsubishi Electric's first factory outside of Japan to manufacture outdoor units, indoor units, and compressors in one location. The company plans to start commercial production in October 2025. It is planned to employ about 60 percent of women in these industries.

On this occasion, the Managing Director and Chief Executive Officer of the Mentor Company, Ve. Vishnu, CEO, Mitsubishi Electric Corporation Group Chairman Yasumichi Tasunoki, Mitsubishi Electric India Managing Director Kazuhiko Tamura, Japanese Consul General in Chennai Taka Masayuki, and senior government officials were present.