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Consultant to be roped in for GIM 2024, says Minister Thangam Thennarasu 

January 25, 2023 12:52 am | Updated January 26, 2023 10:20 am IST - CHENNAI

Thangam Thennarasu

Thangam Thennarasu

The Tamil Nadu government will soon appoint a consultant for the Global Investors’ Meet (GIM) scheduled in Chennai on January 10 and 11, 2024.

“We will soon call for bids to appoint a consultant for GIM 2024. We want to host the event in a structured manner. And have a sector-wise strategy,” Minister for Industries, Investment Promotion and Commerce Thangam Thennarasu said.

Contending that GIM 2024 would not be a random MoU-signing event, he said, “A large number of MoUs will be signed with significant investment commitments, which will help the State achieve its goal of $1-trillion economy by 2030.” This will be the first GIM for the DMK government. The previous two editions were hosted by the AIADMK government in 2015 and 2019.

At GIM 2024, the State intends to focus more on start-ups and emerging sectors. And micro, small and medium enterprises, too. Mr. Thennarasu said, “We need to have equal growth — when we bring in large companies, we should ensure that the MSMEs are supported simultaneously.”

Pitch at Davos

The Minister, who returned from the World Economic Forum (WEF) at Davos, said, “The meetings held last year [at last year’s annual meeting] have started yielding investments, some of which you will hear about soon.” He further said, “Last year was about exploring new partnerships. This year, we met new prospective investors. Priority was also given to strengthening the relationship with the existing investors. Davos was our launchpad for GIM 2024.”

To a question about investor sentiments because of an impending global recession, Mr. Thennarasu said that while making pitches to companies at Davos “we cited examples from the COVID-19 pandemic”. “Despite the pandemic, the State was able to retain its growth. We ensured that businesses ran smoothly and also made sure that everyone in the industry was vaccinated on a priority basis,” he added.

During the Davos trip, the Tamil Nadu team met Juvencio Maeztu, Deputy CEO and CFO, Ingka Group, which includes IKEA. The Minister said IKEA wanted to expand further. “They were interested in Coimbatore. This was a preliminary discussion, but we will soon talk to them in detail. Nothing has been decided or concluded. We told them about the furniture park at Thoothukudi and shared with them the details of the ecosystem that is being developed there.”

On Tuesday, Mr. Thennarasu, along with S. Krishnan, Additional Chief Secretary, Industries, Investment Promotion and Commerce, and Pooja Kulkarni, Managing Director and CEO, Guidance, met Chief Minister M.K. Stalin and briefed him about the meetings and discussions that the team had at the WEF last week.

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