Tamil Nadu awaits investment spree

The State plans to take a big leap forward in industrial growth by firming up investments worth over Rs. 1 lakh crore.

September 09, 2015 08:42 am | Updated November 16, 2021 07:36 pm IST

Tamil Nadu Chief Minister Jayalalithaa on Wednesday inaugurated the Tamil Nadu Global Investors Meet (GIM) 2015 which the State claims would attract investments to the tune of Rs. 1 lakh crore (US$ 16 billion).

This event is crucial for Tamil Nadu for a variety of reasons, the topmost being the heavy competition with other states such as Gujarat, Rajasthan, West Bengal to attract the bulk of investments in India.

Key announcements:

HCL allocates $1 billion for investments in South Tamil Nadu.

Yamaha to set up third plant in Tamil Nadu - trial run on now.

TVS Motor Company announces that it would expand its footprint in Hosur

TICEL Bio Park II to be set up

Adani Group to invest about Rs. 15000 cr. - Rs. 20000 cr. in ports and power sector in the next five years.

As it happened:

12.45 pm: Chief Minister Jayalalithaa poses for a group photograph with the delegates.

12.43 pm: Industries Secretary C.V. Sankar proposes the vote of thanks for the Global Investors Meet 2015.

12.41 pm: Investing in TN is an investment in the hardworking people of TN. Tamils have contributed to the growth of the country: CM Jayalalithaa.

12.40 pm: I request Ms Nirmala Sitharaman to expedite any clearances required at the Central government level for investments signed at this Meet.

12.38 pm: From May 2011 to date, the govt has facilitated investments through MoUs and Single Window facilitation.

12.36 pm: "TN has worked hard on improving investment climate in the State. We have designed TNIPP, which effectively aligns the policy of the State govt with the expectations of the investors."

12.35 pm: TN ranks first in terms of the number of MSMEs registered during 2013-14: CM Jayalalithaa

12.34 pm: "In TN, we have managed to be both a business-friendly and welfare-oriented State. This is not an accident."

12.31 pm: I took charge of a State with chronic power shortage in 2011. In 2015, it is on the verge of becoming a power surplus State: TN CM

12.30 pm: I fully realise that as the world moves forward, we in TN need to move even faster. We have constantly updated our policy framework and redoubled out efforts: CM Jayalalithaa.

12.28 pm: I do not believe in resting on my laurels. We have still higher goals to reach. The people of this State should have access to infrastructure comparable to that of the best in the world: CM Jayalalithaa.

12.27 pm: TN is known to be one of the most advanced, progessive and competitive States of India. Tamil Nadu attracts third highest foreign direct investment in India. TN per capita is more than 1.5 times the national average. We have taken advantage of economic liberlisation: CM Jayalalithaa.

12.26 pm: "It gives me great pleasure to welcome you all to this event."

12.23 pm: Chief Minister Jayalalithaa addresses the audience.

12.20 pm: Yamaha to set up third plant in Tamil Nadu - trial run on now. TVS Motor Company announces that it would expand its footprint in Hosur while TICEL Bio Park II is also to be set up.

12.18 pm: We cannot live with red tapism anymore in India if investments have to flow in: Nirmala Seetharaman, MOS.

12.17 pm: "Commercial Courts Bill 2015 has been introduced in Parliaments. We will be setting up Commercial Courts division in High Courts which will deal with commercial disputes."

12.14 pm: Manufacturing contributes 17% of India's GDP. There is need to give thrust to manufacturing. TN is showing initiative: Ms Sitharaman

12.13 pm: "The response to the investors, very clearly seen here, validates the positive outlook of the government of TN as an investment destination. TN has attracted higher investments than states like Haryana."

12.12 pm: It already has plans to simplify taxes and single window system, which other states are talking about now, had already been created here: Ms. Sitharaman.

12.11 pm: "I congratulate the State of TN of creating a conducive environment for business," says Ms Sitharaman. "It is a very progressive and proactive State."

12.10 pm: Union Minister for Commerce and Industry Nirmala Sitharaman delivers special address.

12.05 pm: Tamil Nadu can become a powerhouse in Maritime industry because of its port: Pon Radhakrishnan.

12.03 pm: Union Minister of State for Road Transport & Highways, Shipping, Pon Radhakrishnan delivers his address.

11.59 am: Tamil Nadu Industries Minister P. Thangamani address the audience. Says industrial revolution was possible in Tamil Nadu only because of TN CM Jayalalithaa.

11.58 am: " We will allocate close to $ 1 billion for investments in South Tamil Nadu." He affirms HCL's Madurai expansion plan. The firm was supposed to start operations this year.

11.57 am: I am familiar with the level of intellect in the State. We will have more operations in Madurai and Thirunelveli to grow further: Mr. Shiv Nadar. "We will undertake training of 20,000 students in TN so that they can be ready for taking up a job."

11.56 am: 35000 of 100000 employees in HCL come from Tamil Nadu: Mr. Shiv Nadar.

11.55 am : "I come from here. I was born here, I was brought up here," Mr Nadar says in Tamil.

11.53 am: HCL Founder Mr Shiv Nadar addresses the audience. "It is a great honour for me to be invited and to speak on this occasion."

11.50 am: Global companies have made TN its production base not just for domestic consumption but for export: Mr. Nobuo Ohashi, JIBCC

11.45 am: "Plan to build a house inside the Mahindra World City is progressing but it is taking time," Mr. Anand Mahindra tells The Hindu .

11.43 am: "At CII, we look forward to a continued partnership with the Tamil Nadu government," signs off Mr. Srinivasan.

11.40 am: "Honourable CM, under your dynamic leadership, the State has announced several dynamic policies for key sectors of TN."

11.39 am: "This has been a wonderful curtain raiser and gives us an idea of the State that Tamil Nadu is," says Mr. Venu Srinivasan.

11.35 am: Mr. Venu Srinivasan, Chairman TVS Motor Company and wife Ms. Mallika are also present on the stage.

11.25 am: Chairs are being arranged on the dais for dignitaries. Guests on the dais include Mr. Rana Kapoor of Yes Bank, Mr. David L. Schoch, Group Vice President and President of Asia Pacific at Ford Motor Co., Mr. Gautam Adani, Chairman and founder of the Adani Group.

11.16 am: A 3D-presentation on Tamil Nadu's achievements follows - focuses on Chennai as health care capital of India, how the State is home to the highest number of tech varsities and is also the hub of industry development.

The presentation pegs Chennai as the healthcare capital of India. Photo: The Hindu

11.13 am: Chief Minister Jayalalithaa inaugurates the Tamil Nadu Global Investors Meet 2015 by launching Special Inaugural Act.

11.10 am: Industries Minister P Thangamani personally welcomed delegates at the venue. There is a sizeable Korean delegation at the event, reports Sangeetha Kandavel.

11.05 am: Cultural programme by dancer Urmila Sathyanarayana and group gets underway.

10.58 am: Chief Minister Jayalalithaa arrives at the venue and greets the industrialists assembled. She is seated with Minister Nirmala Sitharaman.

Chief Minister Jayalalithaa arrives at GIM 2015. Photo: The Hindu

10.56 am: Sasikala, aide of Chief Minister Jayalalithaa, arrives.

10.55 am: A book, detailing the various arts and cultures of Tamil Nadu, is handed out to the delegates at GIM. The book also has details about the temples in Tamil Nadu.

A book, detailing the various arts and cultures of Tamil Nadu, is handed out to the delegates at GIM. Photo: The Hindu

10.50 am: Union Minister for Commerce and Industry Nirmala Sitharaman arrives at the venue.

10.45 am: Union Minister of State for Road Transport & Highways, Shipping, Pon Radhakrishnan arrives. He greets Mr Paneerselvam and other MPs.

10.40 am: Minister for Finance and Public Works Department O. Paneerselvam arrives at GIM 2015.

Minister for Finance and Public Works Departments O Paneerselvam arrives. Photo: The Hindu

10.30 am: Chief Minister Jayalalithaa will inaugurate the two-day event. Union Minister Nirmala Sitharaman will also give an address. For the full list of the day's itinerary and the key delegates scheduled to speak later in the afternoon, click >here .

10.25 am:

The venue is slowly filling up. Photo: S.R. Raghunathan

10.20 am: Anand Mahindra, Chairman and Managing director of Mahindra Group says, "We are an old investor in the State. I'm here as an ambassador for TN and give a testimony of benefits of investing here."

Interesting snippet about Mr Mahindra: He says the State is home to him as he studied at Lawrence Lovedale, Ooty.

10.10 am: HCL Founder Shiv Nadar tells The Hindu, "I belong to this place and glad to be here. Our investments are a continous process. This gim will give lot of momentum to the State."

10.05 am: The delegates arrive one by one at the venue, reports Sangeetha Kandavel.

The delegates arriving at the venue. Photo: G. Ananthakrishnan

10.00 am: HCL Founder Shiv Nadar greets Anand Mahindra, Chairman and Managing director of Mahindra Group.

9.50 am: A peek into the Chennai Trade Centre Convention hall, waiting for the inauguration of GIM 2015.

The Chennai Trade Centre Convention Hall is abuzz with excitement. Photo: G. Ananthakrishnan

9.40 am: But political parties in Tamil Nadu like the DMDK and the PMK are still not sold on the idea of the Meet, saying it is nothing but a last-ditch attempt by the State government to make up for its failures of four-and-half-years. >Read more.

9.30 am: A few months ago, State Industries Minister P. Thangamani had said, “I would like to point out that Nokia did face some problems in the State but it was not because of the State government. But because of the retrospective taxes, which were imposed on companies by the previous government at the Centre.”

9.15 am: “The manufacturing output [of the GSDP] in Tamil Nadu which was 20 per cent in 2004-05 is now 16.6 per cent,” says one industrialist. The reason? An official from an automobile firm blames labour problems. Power was also a constraint for industrialists some time ago, but the situation has improved gradually in the last couple of years.

9.00 am: This event is crucial for Tamil Nadu for a variety of reasons, the topmost being the heavy competition with other states such as Gujarat, Rajasthan, West Bengal to attract the bulk of investments in India. Our business correspondent Sangeetha Kandavel >writes .

Read>The Hindu'>s curtain raiser for GIM 2015 .

8.55 am: “Our government is committed to making Tamil Nadu, a new growth model, among Indian States,” Chief Minister Jayalalithaa said in her invitation to the participants. The meet is seen as an opportunity for Ms. Jayalalithaa to prove a political point to her opponents ahead of the Assembly elections next year.

8.50 am: The main players in this grand event —

Participants: Tamil Nadu government and 3000+ delegates from 9 partner countries and 30 non-partner countries

When: September 9 & 10 2015

Where: Chennai Trade Centre Chennai, Tamil Nadu

Target: Rs 1 lakh crore investment (US$ 16 billion)

Partner countries

  • South Korea
  • Japan
  • Australia
  • Canada
  • France
  • Italy
  • Russia
  • UK
  • Singapore

Some of the top players from India likely to attend:

Chanda Kochhar

Shiv Nadar

B Ashok

Sajjan Jindal

B.K. Goenka,

Raghupati Singhania,

Industrial sectors

  • » Automobiles
  • » Engineering
  • » Aerospace
  • » Agro and Food
  • » Chemicals
  • » Electronic
  • » Hardware
  • » Infrastructure
  • » IT and ITES
  • » Pharma
  • » Skill
  • » Leather
  • » Textile
  • » Services

8.40 am: A total of Rs. 100 crore has been earmarked for this event. Around 100 MoUs are expected to be signed, of which a few are expected to be operational by the end of this year. Here is >all you need to know about the Tamil Nadu Global Investors Meet 2015.

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