GIM 2 attracts over Rs 2 lakh crore investment, says CM Edappdi K. Palaniswami

Chennai: Expressing confidence that Tamil Nadu will exceed its target of securing over Rs 2 lakh crore investment during the second edition of Global Investors Meet (GIM) underway at the trade centre here, Chief Minister Edappdi K. Palaniswami said it would be one of the main contributors to national economic development.
 “I am happy to say we have already exceeded this target (of Rs 2 lakh crore). I hope to make an announcement on the resounding success of the meet and the investments garnered when we meet here tomorrow,” Mr Palaniswami said and added Tamil Nadu looked to the future with confidence and with hope.

“I congratulate all those who are entering into a partnership with Tamil Nadu as your bright future is assured here as our State is a land of immense opportunities,” he said.

 The maiden Global Investors Meet was held in 2015 under the Chief Ministership of J. Jayalalithaa. It helped to attract 98 investment proposals with an investment commitment of Rs 2.42 lakh crores. These projects have investment period ranging from 3 to 7 years.

 At present, 62 Fortune 500 companies have established their facilities in Tamil Nadu which has attracted substantial FDI. Actual FDI inflows into the State from April 2000 to June 2018 was 27,953 millions US dollars. Out of this, more than 75 % of FDI was attracted since April 2011.

“Our revered leader, Puratchi Thalaivi Amma did not believe in resting on her laurels. Nor will we. Puratchi Thalaivi Amma's Vision Tamil Nadu 2023, remains our vision document for action. We will strive for achieving the goals of ‘Peace, Prosperity & Progress’ she had set for us,” Mr Palaniswami said.

He announced a package of second generation reforms including rapid infrastructure development, assured supply of quality energy, deregulation to reduce transaction time and costs, labour reforms and State level tax reforms with an emphasis on simplification of procedures, to revitalise the manufacturing sector.

The two day event, GIM-2019, will showcase a variety of opportunities to explore deeper about investment opportunities in Tamil Nadu. The government has organised 25 seminars, including five country seminars during the next two days. The government has partnered with France, UK, Japan, South Korea, Australia and Singapore and these countries have established their stalls in the exhibition.