Automakers eye Chennai, suburbs as manufacturing hub
Automakers eye Chennai, suburbs as manufacturing hub
As per the Tamil Nadu Government, Chennai and its surrounding areas have witnessed a total investment in car production units which will touch the mark of USD 15 billion. Chennai and its suburbs are becoming a preferred manufacturing hub for the auto mobile markers. Indian auto market in 2010 has grown leaps and bounds. The growth is expected to continue for a long time. The domestic market is luring auto giants from across globe to invest in the promising Indian market to set up its brands, facilities and dealerships. India is greatly supporting the growth of the auto market. Car makers are investing in the suburbs of the country. The investments by the car manufacturing units is expected to exceed to USD three billion in this year with a capacity of producing 1.28 million cars every year. Tamil Nadu Industries Department issued a book "Tamil Nadu Land of Potential", as per the stats in the book, by 2015 production unit will reach to a USD 15 billion as the city will progress to be the export hub for the auto sector. As per the book, in this year, the investment made in the car manufacturing units itself has accelerated to USD three billion. These units can produce 1.28 million units in one year. Chennai and its surrounding places will grow more once it becomes an export unit. The investment is expected to raise to USD 15 billion till 2015. M Karunanidhi, the Chief Minister of Tamil Nadu stated in the book that, the coming decade is very important in terms of investment and growth. A haste progress is speculated in the industrial sector. The industrialization will see great investment and spending for the mobilisation in the infrastructure. He added that, the state is increasing in its infrastructure facilities to fulfill the requirement for the industrialization and to meet the upcoming demands. He expects that, in the next five years Tamil Nadu will be at a good position among the other industrialised countries. In the recent times growth, the international players have set up its production plant in Chennai and its suburbs. The US auto giant Ford India, Hyundai Cars, the Korean car maker, BMW the German luxury car brand and Renault-Nissan the Franco-Japan car giants have already set up its manufacturing units here. Other than the auto biggies, Indian player too have their set ups in Chennai. TVS Motor Company, India's second biggest two wheelers producers and Ashok Leyland, the Hinduja group flagship company and commercial auto maker also have its manufacturing units here.