When the first Global Investors Meet (GIM 2024) was held on January 8 at Chennai Trade Center, organized by the DMK government, Tamil Nadu garnered an impressive commitment of over ₹6.64 lakh crore in investment through 631 Memoranda of Understanding (MoUs) that would create nearly 27 lakh jobs across sectors.
An exceptional ₹6,64,180 crore in investments have been drawn to us. Chief Minister M.K. Stalin declared after the two-day mega event, in front of UK's Minister of State for Foreign Commonwealth and Development Affairs Tariq Ahamad, that 26,90,657 jobs are anticipated to be generated from these investments. These jobs include direct employment for 14,54,712 people and indirect employment for 12,35,945 people.
Tata Power (₹70,800 crores), Adani Group (₹42,768 crores), Sembcorp (₹36,238 crores), Leap Green Energy Pvt. Ltd. (₹17,400 crores), and Chennai Petroleum Corporation Limited (₹17,000 crores) were among the companies that put out some of the most ambitious investment ideas.
Mr. Stalin pledged to meet their expectations and to guide and assist their business endeavors throughout, arguing that these investments demonstrated the investors' trust in his administration and its programs. Under the direction of Industries Minister T.R.B. Rajaa, the Chief Minister assured single window clearances for the projects and announced the formation of a Special Committee by the government to oversee the investments' advancement. Members of the Industries department and Guidance TN would make up the committee. The committee will make every effort to ensure that these memorandums of understanding turn into finished projects. My office is open to you at all times. Mr. Stalin remarked, "You can be assured of our commitment as I guarantee this in front of the Industries Minister and the officers.
He stated that the "Dravidian model" of governance, embodied in the GIM, has established the groundwork for Tamil Nadu's growth over the next two decades. The investments that are being suggested will benefit industries like advanced electronics manufacturing, green energy non-leather footwear, automobiles and e-vehicles, defense and aerospace, data centers, global capability centers, information technology, and digital services.
Giving sectoral-wise break-ups, he said ₹3,79,809 crore had been mobilized through the Department of Industries, Investment Promotions, and Commerce; ₹1,35,157 crore by the Energy department; ₹62,939 crore through the Housing and Urban Development department and ₹22,130 crore through the Information Technology and Digital Services department. Additionally, the MSME sector, which serves as a system of enabling assistance for major companies, has earned ₹63,573 crore.
I have gone through the article. This is really informative and useful. With such investment there will be "Multiplier Effect" in the economy