Stalin releases Vision $1 trillion report, MoUs worth Rs. 5 lakh crores with leading global firms
Chennai, Jan 7-
The two-day Tamil Nadu Global Investors Meet (GIM), the government’s ambitious big-ticket event, begins at Chennai Trade Centre. This edition, which will have 9 partner countries and more than 30 participating nations.
Chief Minister Stalin inaugurated the Tamil Nadu Global Investors Meet in the presence of Union Minister Piyush Goyal, WRD Ministers Duraimurugan, Industries Minister T.R.B. Raja, Chief Secretary Shiv Das Meena, Industries Secretary Arun Rai, officials, leaders of top industries.
The slogan of a $1 trillion economy has been one of the most vociferous of the Stalin government since May 2021.
While Tamil Nadu has held two previous editions of the GIM, on 2015 and 2019, this will be the first under the M.K. Stalin government.
State is aiming to garner investment promises worth a whopping Rs 5 lakh crore, MoUs are being exchanged between the State government and leading firms from across the world.
The agreements that were inked on the first day of GIM 2024 include TVS group’s proposed investment of Rs 5,000 crore for multiple projects that can potentially employ 1,000 people in the state; Korean auto major Hyundai’s plan to invest Rs 6,180 crore for ICE & EV, a passenger car and EV battery manufacturing unit in Kancheepuram district along with setting up of a hydrogen innovation valley with IIT Madras; and JSW Renewable’s move to invest Rs 12,000 crore for renewable energy projects across the State, which could generate 6,600 jobs.
Chief Minister M.K. Stalin released the report on roadmap to achieve $1 trillion economy by 2030. Stalin also launched the Tamil Nadu Semiconductor and Advanced Electronics policy.
The government’s aim is to create more jobs for the youth and women workforce in the rural areas. One other area that has seen some development is the Krishnagiri and Hosur regions. The electric vehicles manufacturing market in that region is booming.
During the inauguration of the Global Investors Meet 2024, the Tamil Nadu government signed MoUs with the companies TATA Electronics, JSW Renewable, TVS Group, Hyundai Motors, AP Moller Maersk.
In his address, Chief Minister M.K. Stalin says the Global Investors Meet 2024 is hosted for attracting investments, creating jobs and showcasing strengths of the State. Tamil Nadu plays a key role in India’s development and that is why he has set a target of $1 trillion economy by 2030.
He added that industries have been attracted in backward districts and that Tamil Nadu is the leading state in attracting investments and is the most welcoming state at the global stage.
Industries Minister T.R.B. Rajaa highlighted on how TamilNadu has been in the top slot across several sectors and he also pointed out how schemes doled out by the State government has helped people. “We have one doctor for every 250 people, which is comparable to Scandinavian countries. We also produce over 1,50,000 engineers every year,” he added. “Through this Global Investors meet, we aim to showcase that along with the economic growth of the state, Tamil Nadu also ensures diversity, equality and inclusivity, while always keeping sustainability in focus.”
Centre and State work together
Addressing the Tamil Nadu Global Investors Meet, Union Minister Piyush Goyal says, “…Tamil Nadu is a state of culture and beautiful products like Kanchipuram sarees and temples adorning different paths of the state… I am delighted that TN has taken an ambitious vision to be a $1 trillion economy by 2030… Aditya L1, the satellite launched to study the sun, has been positioned in its orbit at the Lagrange Point L1. We are proud that the project director of Aditya L1 is a daughter of Tamil Nadu, Nigar Shaji… India is making rapid strides in space programmes…”
On the call of Union Minister for Commerce and Industry Piyush Goyal, participants of the Tamil Nadu Global Investors Meet give a standing ovation to ISRO scientists over the success of India’s first solar mission Aditya-L1.
‘Hydrogen Resource Centre’
Aligned with the Hyundai Hydrogen Vision, the goal is to help foster a worldwide Hydrogen Society by making hydrogen readily used for everyone, everything and everywhere. As part of this, we are collaborating with the Government of Tamil Nadu and we will sign an MoU to establish a dedicated ‘Hydrogen Resource Centre,’ in association with the IIT-Madras. This facility will act as an incubation cell to develop a framework for localization of hydrogen ecosystem,”said Unsoo Kim, Managing Director of Hyundai Motor India.
Hyundai Motor
Unsoo Kim, Managing Director of Hyundai Motor India said: Hyundai Motor India has signed an MoU with the Government of Tamil Nadu for an investment of Rs.6,000 crore, as part of our long-term commitment to the state. This is in addition to the Rs.20,000 crore investment set aside last year to augment our efforts in electric vehicle manufacturing, charging infrastructure, and skill development.
Qualcomm
Chief Minister M.K. Stalin inaugurated the Qualcomm new design centre. The centre was set up with an investment of Rs.177.27 crore and will provide jobs to over 1600 people.
First Solar
Chief Minister M.K. Stalin and Union Commerce and Industry Minister Piyush Goyal inaugurates First Solar’s vertically integrated solar manufacturing facility in Sriperumbudur along with First Solar CEO Mark R. Widmar.
Tata Electronics
TATA Electronics to invest Rs.12,082 crore in Tamil Nadu. Pegatron to invest Rs.1,000 crore. TVS to invest Rs.5000 crore for its expansion plans.
