Several countries evince interest in signing MoUs at GIM 2024

The two-day event, which will be inaugurated by Chief Minister M.K. Stalin on January 7, will see the participation of over 30 countries, with Australia, the United Kingdom, Germany, Denmark, the United States, Singapore, Japan, France and Korea as the partner countries.

Chief Minister M.K. Stalin chairing a meeting to review the arrangements being made for GIM 2024, in Chennai on Thursday.

From signing MoUs to forging new partnerships across emerging sectors, Consuls-General of various countries are gearing up for the upcoming Global Investors’ Meet (GIM) 2024, the first such summit organised by the DMK government. The two-day event, which will be inaugurated by Chief Minister M.K. Stalin on January 7, will see the participation of over 30 countries, with Australia, the United Kingdom, Germany, Denmark, the United States, Singapore, Japan, France and Korea as the partner countries.

Chang-nyun Kim, Consul-General of the Republic of Korea in Chennai, told The Hindu that many MoUs would be signed by Korean firms, especially Hyundai Motor India and Lotte. He also pointed out that around 5,000 Koreans were living in Tamil Nadu – the biggest expat community in the State. “It is also the biggest Korean community in India, even bigger than that in the NCR [National Capital Region]. Moreover, several Korean companies have approached us for further investment in Tamil Nadu. So, I believe that the number of Koreans will increase in the future,” he said.

About 300 Korean companies are operating in Tamil Nadu.

Eske Bo Rosenberg, Consul-General, Consulate General of Denmark in Bengaluru, said a large Danish delegation would be attending the event. “We look forward to discuss how to build a clean, resilient and prosperous energy system. And we look forward to announcing new initiatives and sign new MoUs with our Indian partners,” he said.

“Denmark is a proud partner country of TNGIM and a proud Green Strategic Partner to India. Tharangambadi in Tamil Nadu was the main location for Danish trade activities in India from 1620 to 1845. Today, we have a strong industrial presence with a focus on sustainable solutions and green transition. We also have a deep and strong government-to-government cooperation focusing on water and wind energy,” he added.

“In the years to come, we expect to see many more significant investments in sectors such as renewable energy, green fuels, energy efficiency, water, logistics and digitisation,” he said.

Tamil Nadu is home to several Danish firms, including Grundfos, Danfoss, Ramboll, DHI and Vestas, among others.

Australia is participating with an 80-member delegation, including businesspeople, senior government officials, academics and thought leaders. Australian High Commissioner to India Philip Green will be leading the delegation. Sarah Kirlew, Australian Consul-General in Chennai, said, “Our GIM pavilion will highlight Australia’s Free Trade Agreement with India and our strengths in education, critical minerals, digital health and innovation. The pavilion will also feature the capabilities of our States and the Centre for Australia-India Relations (CAIR), which was established in 2023 by the Australian government to support and facilitate greater collaboration and engagement between India and Australia, as well as showcasing First Nations Australia.”

Over the years, Tamil Nadu has embraced several German companies like Daimler India Commercial Vehicles ( DICV), BMW, ZF Automotive, Siemens Energy, Schwing Stetter, ZF Wind power, DHL Express, Schaeffler, and BASF Catalyst. Consul-General of Germany Michaela Küchler said Germany had a strong economic and business relationship with Tamil Nadu, and was also one of the leading investors in the State.

“We are very happy to participate in this event and use this as a platform for German companies to expand business in Tamil Nadu in particular and India in general. Bavaria, Northrhine-Westphalia, Thuringia, and the Metropolitan Region of Frankfurt Am Main will present business opportunities for companies in and with these regions.”

“It is also an opportunity for Indian companies to expand business in Germany and have joint venture partners or technology transfer in various chosen areas such as engineering, automotive, railways, aerospace and textile,” she said.

U.S. Consul-General, Chennai, Christopher Hodges, said the United States and India were continuing to move their strategic partnership forward through the India-U.S. Initiative on Critical and Emerging Technology (iCET). “iCET is building open, accessible, secure, and resilient technology ecosystems and value chains, based on mutual confidence and trust, which reinforce our shared values and democratic institutions. We will focus on promoting iCET in south India, as technology plays a defining role in deepening the U.S.-India strategic partnership, helping advance resilience and sustainability,” he said.

“The British Deputy High Commission is delighted to present over 20 companies in the U.K. pavilion at the 2024 Tamil Nadu Global Investors’ Meet. This is an excellent platform to showcase the strong relationship that the U.K. and Tamil Nadu enjoy, through investment, education, climate and sustainability partnerships and more,” said British Deputy High Commissioner for Tamil Nadu and Puducherry Oliver Ballhatchet. “The U.K.’s commitment to Tamil Nadu is demonstrated by the attendance of Lord Ahmad, the U.K. Minister for Middle East, North Africa, South Asia, United Nations and the Commonwealth,” he added.