State authorities intends to Tamil Nadu a top quality capital: TRB Rajaa

Minister for Industries T.R.B. Rajaa on Wednesday stated the state authorities intends to make Tamil Nadu high quality capital of India and the world.

Earlier, the industries within the state seemed as much as precision engineering from Switzerland as a benchmark nevertheless it was time to discover alternatives and give attention to high quality by the India-European Free Trade Association (EFTA) Trade and Economic Agreement, he stated talking on the Tamil Nadu EFTA Business Summit 2025 in Chennai, organised by the Southern India Chamber of Commerce and Industry (SICCI).

The commerce and financial settlement, which got here into impact from October 1, pledges $100 billion in investments and the creation of 1 million direct jobs in India over 15 years, whereas offering wider items and companies entry throughout Switzerland, Norway, Iceland, and Liechtenstein.

Mr. Rajaa stated Tamil Nadu has doubled its exports to $52 billion from $26 billion within the final 4 years, with $14.6 billion coming from electronics.

The State accounts for 41% of the nation’s electronics exports, he stated.

Tamil Nadu has signed memoranda of understanding with an funding potential of ₹ 11.32 lakh crore and with excessive conversion price, he stated.

Mr. Rajaa additionally expressed hope that the state would construct significant partnership with Norway on shipbuilding and blue financial system whereas the geothermal capabilities of Iceland may be leveraged.

He additionally referred to as for the creation of a working group with time-bound targets to make sure that the complete potential of the settlement is harnessed.

Tamil Nadu as a state can be most likely finest positioned to reap the advantages of the commerce settlement, Industries Secretary Arun Roy stated.

Ms. Maya Tissafi, Ambassador of Switzerland to India and Bhutan, Embassy of Switzerland, New Delhi stated there are round 330 Swiss firms in India using 150,000 folks and 17 Swiss firms are working in Tamil Nadu throughout numerous sectors like mechanical and electrical engineering, precision engineering and others.

“In difficult occasions for international commerce, with protectionism rising and multilateralism beneath strain, the entry into pressure of this complete, global-looking partnership is not only vital, it’s outstanding,” she stated.

Mr. Bjørn Iversen, Head of Innovation Norway & Commercial Counsellor, Royal Norwegian Embassy stated the settlement helps Norway’s dedication to sustainable improvement and inexperienced transition in India and highlighted sectors like maritime, shipbuilding amongst others.

V.N. Shiva Shankar, senior vp, SICCI stated that SICCI, together with Guidance Tamil Nadu and EY, will set up a Tamil Nadu–EFTA Business Facilitation Desk, host annual EFTA Roundtables on rising sectors.

Niklaus-Samuel Gugger, member, Swiss National Council and President, Switzerland-India, Parliamentary Friendship Group, Benedikt Höskuldsson, Ambassador of Iceland to India, amongst others, spoke on the occasion.