Our aim is to make Tamil Nadu a $1 trillion economy, says Stalin

CM launches portal with over 100 services for investors

Updated - July 21, 2021 04:56 am IST

Published - July 21, 2021 04:55 am IST - CHENNAI

Chief Minister M.K. Stalin inaugurating the investment conclave in Chennai on Tuesday.

Chief Minister M.K. Stalin inaugurating the investment conclave in Chennai on Tuesday.

Chief Minister M.K. Stalin launched a fully digitised single window portal 2.0, with more than 100 services from 24 departments for investors, at the Investment Conclave-2021 here on Tuesday. It will have features such as parallel processing of clearances, virtual meetings with departments, artificial intelligence-based chatbot facility and deemed approval for select clearances.

The Chief Minister exchanged copies of 35 memoranda of understanding with the representatives of various companies, entailing a cumulative investment of ₹17,141 crore and envisaging 55,054 jobs, in the presence of officials of the Department of Industries and Guidance Tamil Nadu, a government agency tasked with investment promotion.

“Our aim is to make Tamil Nadu a $1 trillion economy. And we will provide a conducive business environment,” he said.

The State’s finances, he pointed out, were not so good when the DMK entered office two months ago, but the economy was slowly recovering.

General Electric has proposed to open a centre of excellence to enhance production of aircraft and aeronautical components for aerospace and defence industries through advanced manufacturing technologies. A memorandum of understanding was signed between General Electric Company and the Tamil Nadu Industrial Development Corporation (TIDCO).

A deal was signed with JSW Renew Energy Two Limited for a 450-MW wind power generation project entailing around ₹3,000 crore in investments. Cryolor Asia Pacific Private Limited has signed a ₹70-crore deal for making bulk cryogenic storage tanks. The other key deals are Tata Consultancy Services’ Phase III project at SIPCOT IT Park, Siruseri, with an investment of ₹900 crore, and a facility to be opened by Srivaru Motors in Coimbatore for manufacture of electric vehicles at an investment of ₹1,000 crore.

Mr. Stalin laid the foundation for 9 projects with an investment commitment of ₹4,250 crore and potential jobs for 21,630 persons. He also inaugurated 5 projects with an investment commitment of ₹7,117 crore and potential jobs for 6,798 persons.

Industries Minister Thangam Thennarasu said the Chief Minister had ordered that each investor be guided and assisted at every stage.

“The Chief Minister has set a target of ₹23 lakh-crore in investments and over 46 lakh new jobs by 2030,” said Industries Secretary N. Muruganandan.

Guidance Tamil Nadu entered into a memorandum of understanding with American Tamil Entrepreneurs Association to promote start-ups in innovation and research and development in Tamil Nadu. This digital accelerator programme sanctions grants to the start-up projects. The government has sanctioned ₹5 crore for this programme. Around 75 applications were received, and 5 were selected for the grant. Mr. Stalin handed over the sanction orders to these companies.


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