R ARIVANANTHAM
CHENNAI, JAN 8
Sending a strong message that Tamil Nadu is business-friendly, MK Stalin-led DMK government attracted an impressive investment commitment to the tune of over ₹6.64 lakh crore through 631 Memoranda of Understanding (MoUs) that would generate nearly 27 lakh jobs across sectors, the government announced at the end of the two-day first Global Investors Meet (GIM 2024) here on Monday.
“We have attracted an unprecedented ₹6,64,180 crore of investments. A total of 26,90,657 jobs are expected to be generated from these investments that include direct employment for 14,54,712 persons and indirect employment for 12,35,945 persons,” Chief Minister MK Stalin announced at the valedictory of the two-day mega event.
“With this GIM, this government that espouses the ‘Dravidian model’ of governance has laid the foundation for Tamil Nadu’s growth for the next 20 years,” he said, noting that the proposed investments would be across sectors such as advanced electronics manufacturing, green energy non-leather footwear, automobiles and e-vehicles, defence and aerospace, data centres, global capability centres, Information Technology and Digital Services.
#TNGIM2024, that caught India's attention, has received a remarkable influx of investments. pic.twitter.com/325iTxE2EG
— M.K.Stalin (@mkstalin) January 8, 2024
Stalin was confident that the MoUs signed on Monday would help the government attain its ambitious target to make Tamil Nadu a $1 trillion economy by 2030 and play a key role in India’s economic growth.
The final notes of success resonated in the Valedictory Ceremony of Tamil Nadu Global Investors Meet 2024, where thought leaders, influencers, and industry trailblazers united to celebrate the monumental achievements of Tamil Nadu and the immense potential it holds for the… pic.twitter.com/pkflI4Tkv0
— Guidance Tamil Nadu (@Guidance_TN) January 8, 2024
Tata Power Renewable Energy’s $70,800 crore towards renewable energy and electronics, Adani Group’s $39,268 crore across renewable energy, city gas distribution and data centre as well as Sembcorp’s $36,238 crore into renewable energy were among the top announcements announced. Some of these include sums announced previously. The investment proposals span sectors such as green energy, non-leather footwear, automobiles, defence and space, among other sectors.
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Global Investors Meet 2024-Day 2: Adani Group to invest over Rs 42,700 cr in Tamil Nadu
Top industrialists such as Adani Ports and SEZ CEO Karan Adani, TAFE Chairperson Mallika Srinivasan, Mahindra & Mahindra Chairperson Anand Mahindra, Tata Power Company Limited CEO &MD Praveer Sinha and Saint Gobain Asia Pacific & India CEO Santhanam B were in attendance at the Monday event.
The two-day event also saw the industrialised southern state announcing a Semiconductor and Advanced Electronics Policy, a Private Public Partnership policy as well as a roadmap to achieve its target of becoming a $1-trillion economy by 2030.
On Day 1, Vietnamese EV firm Vinfast made a commitment of $16,000 crore to set up a fully integrated EV manufacturing unit in Thoothukudi district, while Tata Electronics and JSW Steel made commitments of $12,082 crore and $12,000 crore, respectively.
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Tamil Nadu Global Investors Meet: Stalin-led DMK Govt all set to outwit Gujarat in offering sops
Speaking virtually on Sunday, Reliance Industries Chairman Mukesh Ambani said his firm will open a data centre in Chennai next week in partnership with Canada’s Brookfield Asset Management and US-based Digital Reality. “Reliance has committed to making new investments in Tamil Nadu in renewable energy and green hydrogen,” he said.
Diversified conglomerate JSW Group’s Chairman Sajjan Jindal said on Sunday, “We have so far invested over $15,000 crore in Tamil Nadu and I plan to double that investment over the next few years and propose to invest further in a 1,000 MW of pump storage project and a 1,000 MW of wind power energy.”
Godrej Consumer Products Limited (GCPL) announced the ground breaking ceremony of a new factory in Chengalpattu district near Chennai at an investment of $515 crore. GCPL’s Executive Chairperson Nisaba Godrej said: “Tamil Nadu is the biggest premium soap market. We will make Cinthol and other brands like Goodknight at the new factory at Chengalpattu. This facility will be a lighthouse facility with at least 50% women and 5% LGBTQ members employed.”
