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Jayalalitha Seeks More American Investment
The US Secretary of State is on an official visit to Chennai. She met the chief minister after addressing an Indian Gathering at the Anna Centenary Hall. Jayalalitha is said to have asked Mrs Clinton to impress upon the American carmakers the improved investment scenario in Tamil Nadu. The USA is the home two of the world's largest carmakers in General Motors and Ford. An investment from any of these to automotive giants will boost the economy.
J Jayalalitha who took over the reigns in Tamil Nadu after a landslide election victory is keen to improve the economic condition of the state. She is providing more and more support to the automotive sector. French carmaker PSA Peugeot Citroen has already held talks with her towards building a plant near Chennai.
J Jayalalitha has also supported local automotive players. Her government recently allotted 50 acres of land to Eicher Motor. The company which owns the Royal Enfield motorcycle brand plans to build a second manufacturing plant.
Chennai has already emerged as a major automotive hub in India with Ford, Hyundai, Mercedes, BMW, Nissan and Renault having manufacturing facilities. Chennai with its port has attracted several foreign carmakers who wanted to use Indian plants for export purposes. More than 85 per cent of the Nissan Micras have been exported. Hyundai exports its i10 and 120 hatchbacks.
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