US companies to step up investment in TN

Updated on: Wednesday, October 21, 2009

Chennai: The US companies have retained their focus on Tamil Nadu and are recruiting more people as part of their expansion plans. A delegation from Amcham, an association of American business organisations, met state Deputy Chief Minister, M K Stalin, Industries Secretary, M F Farooqui and senior officials in Chennai on Tuesday in order to step up investment by the companies.

The delegation comprised Amcham national chairman and General Electric President and CEO, T P Chopra, Vice Chairman, Gulshan Sachdev, another Amcham national Vice Chairman and Cognizant VP, R Ramkumar besides Amcham TN chapter chairman and Ford India MD, Michael Boneham and other representatives.

They told Stalin that though there is a slow down, the American companies are continuously recruiting and a lot of them recruit from the local areas of their production\operarting facilities and generate employment in the region.

Amcham surveys among the companies in the State also showed that the investment is likely to increase with the expansion plans of some of the companies. A large part of the recruitment by the American companies are new hires ( freshers into their first job after college). The companies also spend lot of resources, time and energy to develop skills through training and in house career development programme.

Amcham, TN chapter has 54 member companies which have invested Rs 16,473 crore, generated direct employment of 1, 10,373 and 2, 26,139 indirectly. The list include Ford, Dell, Verizon, Ajuba, Perot Systems, Cognizant, Ernst & Young, Trimble, Sanmina-SCI, Kemin, Asiana Hotel, Motorola, Visteon, AIG and Caterpillar.

Amcham sources said the deputy CM has assured the State Government’s full support to the investment plans of US companies. The team also impressed upon the State Government to strengthen the investment climate by focusing more on infrastructure, power generation, especially, solar energy.

Amcham delegates outlined the CSR initiatives of its members relating to school education, higher education, health, community development etc.

US companies to step up investment in TN

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