Delegation from TN headed for Tokyo and Seoul to attract investments in footwear space

A delegation from Tamil Nadu, led by Industries Minister Thangam Thennarasu, is heading for Tokyo and Seoul for a week to attract investments in the footwear space and also meet companies that already have investments in the State. “We will be visiting Tokyo and Seoul. We are organizing roadshows. The main focus is the footwear sector,” the minister told The Hindu.

The DMK government has set an ambitious goal to make Tamil Nadu a $1 trillion economy by 2030, and the footwear and leather sector are key areas that are being given a push. Last month, Chief Minister MK Stalin unveiled the Footwear and Leather Products Policy 2022, through which the State aims to attract investments to the tune of ₹20,000 crore and create over two lakh jobs. This policy will be valid until March 31, 2025, and will be periodically revised.

Mr. Thennarasu further said the team (which includes officials from Guidance Bureau) would also visit companies such as Hyundai, Samsung, Kobelco and other firms that have already established their presence in the State. “This is more of a courtesy call to assure them that the State will provide any support whenever required,” he added.

In Japan, the team will also be meeting Nagamine Makoto, the Parliamentary Vice-Minister of Economy, Trade and Industry.

Currently, Tamil Nadu is home to over 200 Japanese companies and around 589 business establishments. Japanese companies and establishments are in the manufacturing sector producing automobiles, transport equipment, machinery, electric machines and chemicals among others. The State houses over 150 Korean companies and is home to over 4,000 Koreans, forming the biggest expat community.

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