Tamil Nadu which boasts of being the leading investments destination down the South and second in the country is facing heat of late. The state is just recovering from a political ambiguity created by the Chief Minister Jayalalithaa’s conviction in disproportionate assets case and the aftermath effects of it. However when things seem to be falling place, the state is being challenged by the neighbouring Andhra Pradesh in attracting the investments.
Most of the manufacturing units are lining to AP’s Sri City facility closer to Chennai. AP under the leadership of Chandrababu Naidu is aggressively wooing companies with better infrastructure facilities and faster clearances. Also the tax incentives and subsidies rolled out by Naidu are much higher than that in Tamil Nadu. Cheaper Power supply, good internet connectivity, land and throw away prices are all working in favour of AP.
Andhra Pradesh under Naidu managed to woo investments worth 20000 Crore and bulk of them were supposed to go to Tamil Nadu. The state Chief Minister is definitely worried about the pace of the neighbouring Chief Minister and is reportedly pondering over ways to counter him.
