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‘Rs 1,614 crore Korean investment was never ours’: TN government denies losing out to AP
By C Shivakumar3 min read at The New Indian Express
In brief
Tamil Nadu's industries department denied losing a Rs 1,614 crore investment cluster by South Korean manufacturers to neighboring Andhra Pradesh, stating the move was contextual to automotive supply chains.
The department highlighted Tamil Nadu's existing automotive ecosystem and claimed it had previously secured investments from other companies despite competing with Andhra Pradesh.
Sources from the industries minister’s office also accused the DMK of double standards regarding past investment losses.
This is an AI-estimated analysis and may not reflect the article's actual intent or the publisher's editorial position.
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At a glance
- Tone: even
- Ownership not yet recorded
- Coverage: only The New Indian Express so farWhat is this?
CHENNAI: Tamil Nadu has rejected reports that its auto components industry is losing ground to neighbouring Andhra Pradesh, after reports that three component suppliers are setting up plants in Anantapur.
Reacting to three South Korean automotive component manufacturers — Hwashin, Seoyon and Iwamet — choosing to set up a combined Rs 1,614 crore investment cluster, an industries department official said it was being “presented and read out of context”, and pointed out that the move reflects how automotive supply chains work rather than any shift in the state’s appeal. Hwashin and Seoyon already operate units in Sriperumbudur and Krishnagiri while Iwamet, a key global supplier of precision automotive parts, has a registered entity in Sriperumbudur.
That is the opening of The New Indian Express’s story. The full report is on their site.
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