Tamil Nadu Secures Rs.7,020 Cr Investments, 15,320 Jobs at Investors Meet in Germany

Chennai: Assuring all essential assistance for investors coming down to Tamil Nadu to start ventures, Chief Minister M K Stalin told business leaders in Germany that they would not just see a market for their business in the State but meet partners who would stand with them and celebrate their success, besides finding a favourable environment for various industries, a skilled workforce and high incentives waiting for them.

Speaking at the Tamil Nadu Rising Investors Conference in Germany, where in the last two days a total of 26 Memoranda of Understanding (MOUs) committing for an investment of Rs 7020 crore and 15320 jobs were signed, Stalin said Tamil Nadu was a leading State in India in the ‘Ease of Doing Business’ rankings and that his government was committed to providing all facilities for projects undertaken by investors.

The investors conclave alone saw the signing of 23 MoUs worth Rs 3819 crore and guaranteeing 9,070 jobs even as the Chief Minister concluded his sojourn in Germany before leaving for the United Kingdom by making an appeal to investors to come down to Tamil Nadu, which, he said, was the second-largest economy in India and the only state in India to have achieved the highest double-digit economic growth.

With 48 percent urbanization, Tamil Nadu was the most urbanized state in India and had the highest number of factories and employees, besides a rich history and tradition like Germany, Stalin said, making mention about Bartholomaus Ziegenbalg, a German who came to the State in the 18th century, learnt Tamil and translated and printed the Bible in Tamil.

Inviting investors to start business in the State, where, according to research reports, iron was used 5,000 years ago, he said many German firms were already operating in Tamil Nadu with Fortune 500 companies like BMW, Daimler Mercedes-Benz and Telekom having a strong presence.

He referred to ‘Made in Tamil Nadu’ becoming a hallmark of quality and said the State, where everything, from bicycles to battle tanks, were being produced had many economic similarities with Germany.

Just as Germany was a major industrial nation within the European Union, Tamil Nadu was the industrial heartbeat of the Indian Union and one can call Tamil Nadu ‘the Germany of India, he said. The economic relationship between Germany and Tamil Nadu with its leading higher education and research institutions, nearly 5.4 million MSMEs, and over 11,000 startups, could be further strengthened with enhanced investments from Germany, he said.

The conclave brought global leaders in renewable energy, automotive components, industrial equipment and advanced R&D together and among those who made the major commitments were Vensys Energy (Rs 1068 crore, 5238 jobs), BASF (Rs 300 crore, 100 jobs), Herrenknecht India (Rs 250 crore, 450 jobs) and MASH Energy (Rs 200 crore, 200 jobs).