Davos 2024: India Offers Opportunity For Manufacturing, Says Tamil Nadu Minister TRB Rajaa

Top companies across the globe are looking to invest in India and are ready to explore opportunities that state governments present at the World Economic Forum, according to Dr. TRB Rajaa.

"India, as such, is an undeniable force now and I think the world needs to look at India in a bigger way and that's exactly what they are doing," Dr TRB Rajaa, Minister for Industries, Investment Promotion and Commerce, Tamil Nadu, told NDTV Profit's Niraj Shah on the sidelines of the World Economic Forum 2024 in Davos.

The world sees opportunity in India for manufacturing because of the port infrastructure, workforce, capability, policies of states, and the consumption in the country, he said.

The state is not looking at MoUs but rather at the quality of investments, according to him. "We are very careful about how we spend our incentives. We give amazing incentives, but at the same time we are very careful about our incentives and make sure the incentives are used properly to give us the quality of jobs we want in the place we want," he said.

Tamil Nadu is the auto and electrical capital of India and is gradually going to become the EV capital as well, he said. Currently, 70% of electric two-wheelers and 40% of electric four-wheelers sold in India are made in Tamil Nadu, the minister said.

The state has plans to become a trillion-dollar economy by 2031 and will reach that goal by getting quality investments, having inclusive policies and offering equal opportunities, he said. The economic growth is across urban and rural regions, and the results of it will soon be visible, according to him.