Tamil Nadu woos South Korean businesses to invest in footwear & textiles sector
Updated: Sep 27, 2022 09:36:52am
Tamil Nadu woos South Korean businesses to invest in footwear & textiles sector
Chennai, Sept 27 (KNN) The Tamil Nadu delegation led by Industries Minister Thangam Thennarasu on Monday held discussions with its South Korean countpart with the aim to improve trade ties and expand Korean businesses that operate in the State.
The State is focussing on a targeted approach and is pushing for investment in the footwear and textiles sectors, as per a report by the Indian Express.
During the meeting, the discussions focussed on the sunrise sector of green hydrogen, TN Defence Industrial Corridor, and collaboration in skilling and human capital. South Korea has one of the largest foreign presences in the region.
Apart from Germany and Europe, there is a huge demand for green hydrogen from South Korea and Japan. “With our ecosystem in Tamil Nadu, we can easily export it to Seoul or Tokyo,” said industry sources.
Currently there are around 150 South Korean companies in Tamil Nadu, and 250 in South India, which employ three lakh Indians and create 1.5 million jobs indirectly, according to data provided by the Consulate General of the Republic of Korea.
The Tamil Nadu delegation after its Korean visit, will now head for Japan. Tokyo presently has three industrial townships in Tamil Nadu. (KNN Bureau)