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India's Tamil Nadu signs pacts for $1.58 billion in new projects by overseas investors
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India's Tamil Nadu signs pacts for $1.58 billion in new projects by overseas investors
Aug 13, 2026 1:40 AM

CHENNAI, Aug 13 (Reuters) - India's Tamil Nadu state said it

signed agreements worth 150.5 billion rupees ($1.58 billion) for

16 new projects by overseas investors, including France's

Saint-Gobain and U.S. server maker Super Micro Computer ( SMCI ), as part

of a broader investment push.

The state government on Thursday signed 97 agreements worth

674.52 billion rupees across sectors, creating more than 100,000

jobs and including investments by Indian businesses as well as

expansions at existing facilities.

This is the first investment conclave since

actor-turned-politician Joseph Vijay ended a decades-old duopoly

of two major parties to become chief minister in May. His

administration seeks to invite more business to India's top

manufacturing state.

The projects include a 20 billion-rupee investment from

construction group Saint-Gobain for a new plant and an

expansion of its Kanchipuram facility. Germany's Daimler India

Commercial Vehicles will also invest 40 billion rupees to expand

its Chennai factory.

Indian jeweller Titan has committed 10 billion

rupees to expand its operations, while Sri Lankan apparel

manufacturer MAS Holdings will invest 8.8 billion rupees.

Reuters reported on the news earlier on Thursday, citing a

government source.

Other investors include Hinduja Group, space startup Agnikul

Cosmos and e-motorcycle maker Ultraviolette.

The southern ​state's capital Chennai, often called the

'Detroit of India', is a ⁠major manufacturing hub, hosting

factories operated by Hyundai, Renault Group and TVS

Motor, as well as Apple ( AAPL ) suppliers such as

Foxconn and Tata Electronics.

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