A.P. Moller – Maersk (Maersk) and the Government of Tamil Nadu have signed a Memorandum of Understanding (MoU) during the Tamil Nadu Global Investors Meet 2024.
As per this MoU, Maersk and the Government of Tamil Nadu entered a partnership that allows both to explore strategic opportunities together and enable the state’s growing trade.
Tamil Nadu is reportedly the third-largest contributor to India’s GDP, with the potential to become the second-largest next year. It is also India’s third-largest exporter, with plans to grow to a $1 trillion economy by 2030.
Vikash Agarwal, Managing Director, Maersk South Asia, said: “We have a long-standing 25-year relationship with the state of Tamil Nadu. The state’s conducive business ecosystem, robust infrastructure and a future-proof talent pool make it an attractive destination to invest in.
“We offer robust integrated logistics solutions in Tamil Nadu to various global and local customers across sectors such as Renewables, Automotive, Electronics, etc.
“Looking at the potential for growth in trade out of the state, we are now ready to explore opportunities that will allow us to develop land for integrated logistics hubs, build warehousing infrastructure and a sustainable distribution network to strengthen our integrated logistics solutions.”
The state of Tamil Nadu is currently connected to the global ocean network through Maersk’s two major service calls.
Furthermore, Maersk noted that it has a robust distribution network that connects the ocean ports to the hinterland, where many of the manufacturers and consumers are located. Maersk also has a cold storage facility in Chennai, which caters to its customers’ frozen and chilled cargo.
V. Vishnu IAS, Managing Director and CEO, Guidance, Tamil Nadu, stated: “We are happy to collaborate with Maersk as a strategic logistics partner. To attract global investments into the state, the availability of effective logistics and supply chain solutions is key.
“We believe this collaboration would bring the right global expertise, network, and ambition to enable the growth of trade in the state. Guidance, Tamil Nadu shall facilitate necessary support and bolster existing conducive environment to implement best global practices for proposed investments.”