Tamil Nadu turns investors’ pride; Global Investors Meet attracts Rs 2.4 lakh crore
Chennai: Having spent Rs 100 crore in conducting road shows worldwide and showcasing Tamil Nadu as an ideal destination for investors, the state on Thursday had quite a lot to show for it as investment proposals worth over Rs 2.4 lakh crore have come pouring in. The promised sums and the jobs these investments are likely to create were the clear highlights of the two-day Global Investors Meet (GIM), which ended here on Thursday.
Addressing the valedictory function of the gala event, Chief Minister J. Jayalalithaa said total investments finalised in the meet stood at “an unprecedented”, Rs 2,42,160 crore, which is more than double of the target of Rs one lakh crore fixed by her government. She pointed out that she had personally planned and supervised the investor meet in which she connected with the investors and delegates, assuring them that the confidence vested in the state would be fully redeemed. “You (investors) have chosen your investment destination wisely. Your investments in Tamil Nadu will be safe and mutually beneficial”, she said.
The MoU signed in the past two days had surpassed the cumulative investments and MoUs in TN during the two-decade period between 1991 and 2011. On Thursday, 98 MoUs were signed and documents exchanged, she said while disclosing the investment break-ups in detail.
Out of the total investment of Rs 2,42,160 crore, Rs 1,04,286 crore has been proposed in the manufacturing sector; Rs 1,07,136 crore in the energy sector; Rs 10,950 crore in the Information Technology sector; Rs 1,955 crore in the handlooms sector while the agriculture and fisheries sector brought in Rs 1,300 crore, CM said.
Solar energy projects with a total capacity of 5,345 MW with an investment of Rs 35,356 crore and more than 10,000 medium and small industries have also entered into MoUs to invest another Rs 16,533 crore, she said.
Almost 50 per cent of the investments have been committed for the Southern districts and the Madurai-Thoothukudi industrial corridor has received a massive boost from the investors.
Explaining that Tamil Nadu is already one of the top 10 automobile hubs in the world, she wished that Chennai, with its manufacturing capacity to make three cars every minute, would soon be the global world capital for cars.
“For each of the investments finalised the necessary statutory clearances would be accorded within a period of 30 days from the date of application with all supporting documentation to the Guidance Bureau, Single Window System”, Ms Jayalalithaa assured investors.
