Headed by the chief secretary of Tamil Nadu, the committee includes legislators from South Korea & Japan who will submit a report within 1 month.
Chennai| Tamil Nadu has set up a crack team of administrators to check if investments moving out of coronavirus-hit nations as a measure of supply chain diversification can be pulled into the southern Indian state.
Headed by the Tamil Nadu’s chief secretary, this committee will submit a report within 1 month. The panel will also include representatives from top investor organisations from countries like Japan and South Korea, which have already shown a preference to shift production from China.
A government order stated, “Reports show that countries like the USA, South Korea, Japan, Taiwan and Singapore are expected to diversify by establishing supply chains originating in India. Tamil Nadu, which is already a preferred investment destination, is well located to attract these investments and needs to take pro-active steps to draw them.”
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Across the world, businesses are said to be assessing their supply chains. Recently, Japan had even allotted a portion of its stimulus package to help manufacturers with bases in China to shift their units.
The board will form a special incentive package and facilitation method to attract investments and recognise sectors in which the state can strengthen ecosystems. The committee will also classify measures to fast track approvals to promote the investments.
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