Tamil Nadu

Global Investors Meet planned in 2018: CM

Attracting industry: Chief Minister Edappadi K. Palaniswami, second from left, being greeted by Vikram Kirloskar, chairman, CII southern region, in Chennai on Saturday.  

Tamil Nadu will host its second global investors meet (GIM) in 2018, Chief Minister Edappadi K. Palaniswami said on Saturday.

Speaking at the CII Southern Regional Council Meeting, Mr. Palaniswami said that in the first global investor meet held in 2015, as many as 98 MoUs were signed with investment proposals of ₹2.42 lakh crore.

“Of this, 61 projects with an investment of ₹62,738 crore are under various stages of implementation. These projects will provide employment to 76,777 people,” he said, addressing leading industrialists for the first time after taking over as Chief Minister in February.

The State would soon come out with an aerospace and defence policy. This follows the ongoing development of an aerospace park at Sriperumbudur on 267 acres, he said.

The Chief Minister added that Tamil Nadu was an attractive destination for investors due to its robust infrastructure, including seven airports, four major ports, 20 minor ports, good road network and uninterrupted power supply.

FDI flow

On the status of Foreign Direct Investments in the State, he said Tamil Nadu had attracted ₹1.25 lakh crore of FDI between May 2011 and December 2016.

The Chief Minister said that construction work for the industrial corridor, connecting Visakhapatnam-Chennai-Tuticorin-Kanniyakumari, was on.

To improve ease of doing business in the State, the government would soon come out with a single window clearance facility for faster processing of applications, and laws would be enacted in this regard, if needed.

Initially, the GIM was to be held every two years, and in the State budget for 2017-18, a sum of ₹75 crore was allocated for the second GIM.


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Printable version | Jun 15, 2021 10:39:48 AM | https://www.thehindu.com/news/national/tamil-nadu/global-investors-meet-planned-in-2018-cm/article18715226.ece

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