Tamil Nadu government inks ₹15,500cr investment deals with UK, Germany
What's the story
The Tamil Nadu government has signed Memorandums of Understanding (MoUs) worth ₹15,516 crore during its 'TN Rising' investment drive in the UK and Germany. The agreements are expected to create as many as 17,613 jobs in the state. The Hinduja Group of the UK has committed to a major investment of ₹7,500 crore in Tamil Nadu's electric vehicle (EV) ecosystem.
Investment details
Hinduja Group to invest in EV ecosystem
The Hinduja Group has signed an MoU with the Tamil Nadu government to invest in cell and battery manufacturing for EVs, Battery Energy Storage System (BESS), and EV charging stations. The investment is likely to expand the electric vehicle ecosystem and create over 1,000 jobs. This is part of a broader vision by the Hinduja Group to invest through its various companies in Tamil Nadu's EV ecosystem.
Expansion announcement
AstraZeneca's strategic investment in Tamil Nadu
AstraZeneca has announced its third strategic investment in Tamil Nadu in two years. The pharmaceutical giant will be expanding its Global Innovation and Technology Center (GITC) in Chennai with an investment of ₹176 crore. The GITC plays a vital role in AstraZeneca's global operations, enabling high-end research, AI-driven innovation, and technological transformation in healthcare delivery.
Past investments
Earlier announcements during CM Stalin's meetings in the UK
The latest investments build on earlier announcements made during Chief Minister M.K. Stalin's meetings in the UK. These had secured ₹820 crore in MoUs, generating 1,293 jobs across sectors such as Global Capability Centers (GCCs), manufacturing, textile technology, and design education. Before the UK leg of his trip, Stalin's delegation had secured ₹7,020 crore in investment commitments from Germany through 26 MoUs likely to create 15,320 jobs.