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Tamil Nadu attracts investment proposals of Rs 6.64 lakh cr during GIM 2024

Tuesday, 09 Jan 2024
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Tamil Nadu has attracted an investment commitment to the tune of over Rs 6.64 lakh crore through 631 memoranda of understanding (MoUs) at the conclusion of the first Global Investors Meet (GIM 2024) at Chennai Trade Centre on 08 January, 2024.

The investment proposals were made by Tata Power (Rs 70,800 crore), Adani Group (Rs 42,768 crore), Sembcorp (Rs 36,238 crore), Leap Green Energy (Rs 17,400 crore) and Chennai Petroleum Corporation (Rs 17,000 crore). 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. 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.

Assuring single window clearances for the projects, the state government would constitute a special committee under Industries Minister T.R.B. Rajaa, to monitor the progress of these investments. The committee would comprise officials from the industries department and Guidance Tamil Nadu. It will work to ensure that the investments committed by companies are implemented.

Sector-wise, around Rs 3,79,809 crore had been mobilised through the Department of Industries, Investment Promotions and Commerce, Rs 1,35,157 crore by the Energy Department, Rs 62,939 crore through the Housing and Urban Development department and Rs 22,130 crore through the Information Technology and Digital Services department. Besides, Rs 63,573 crore had been generated by the micro, small and medium enterprises (MSME) which provides an enabling support system to large industries.

The state government has released the Tamil Nadu Public-Private Partnership Policy to draw best practices of both government and private sectors.
 

 
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