Tamil Nadu Global Investors Meet 2024 Day 2 Updates | ₹6.64 lakh crore-worth investment proposals attracted: CM Stalin

Tamil Nadu government doles out Public Private Partnership Policy at the Global Investors Meet 2024 in Chennai on January 8, 2024. - Sangeetha Kandavel

Adani Green Energy will be investing ₹24,500 crore, Ambuja Cements is investing ₹3,500 crore, Adani Connex is investing ₹13,200 crore and Adani total gas and CNG is investing ₹1,568 crore.

Sembcorp will be investing ₹36,236 crore in Thoothukudi. Will be setting up a green hydrogen plant. - Sangeetha Kandavel

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Chief Minister M.K. Stalin laid the foundation stone for Pou Chen Corporation – High Glory Footwear, non-leather footwear manufacturing unit in Kallakuruchi district with an investment of ₹2,302 crore. - Sangeetha Kandavel

Creators of the hugely popular ‘Village Cooking Channel’, which has 23.4 million subscribers on YouTube, on Monday, shared their experiences at a panel discussion, at the Tamil Nadu Global Investors Meet (GIM) 2024 in Chennai.

Tamil Nadu has the highest concentration of Special Economic Zones (SEZs) in the country, with 54 of them in operation, accounting for one-third of the State’s exports, Alex Paul Menon, Development Commissioner, MEPZ (Madras Export Processing Zone) SEZ, said at the Global Investors Meet 2024, in Chennai, on Monday, January, 8, 2024.

S. Krishnan, Secretary, Ministry of Electronics & Information Technology (MeitY) said the Foxconn facility in Sriperumbudur employs 50,000 people in one location. He added that India needs both manufacturing and high tech jobs. - Sanjay Vijayakumar

Speaking at the session on ‘Electronics: Rapidly re-shaping the future’, S. Krishnan, Secretary, Ministry of Electronics & Information Technology (MeitY) says 99.2% of mobile phones sold in India are manufactured in India, when compared to import of mobile phones 8-9 years ago. - Sanjay Vijayakumar

UPS and Guidance, the Government of Tamil Nadu’s nodal agency for investment promotion signed an investment MoU at the Tamil Nadu Global Investors Meet 2024.

Speaking at session on Special Economic Zones as Engines of Economic Transformation, Anup Wadhawan, Former Union Commerce Secretary, says entrepreneurs can themselves establish SEZs. One of the aspects the Centre had focused on digitising approvals, as a part of ease of doing business. The state government and Centre are focusing on providing plug and model for manufacturing.

- Sanjay Vijayakumar

Speaking at session on Special Economic Zones as Engines of Economic Transformation on Day 2 of GIM, Aradhana Aggarwal, Professor, Copenhagen School of Business says role of services in manufacturing is increasing and India can take advantage of it.

- Sanjay Vijayakumar

Speaking at session on Special Economic Zones as Engines of Economic Transformation on Day 2 of GIM, Arul Sambandam, Managing Director, Synergy India Ventures says Tamil Nadu scores in aspects like ease of doing business being ranked at no 3 in the Index and availability of cheaper and skilled workforce.

- Sanjay Vijayakumar

Moderating the session on Special Economic Zones as Engines of Economic Transformation, Sunil Rallan, Managing Director, J Matadee Free Trade Zone Pvt Ltd says Tamil Nadu offers political and social stability. Global value chains with an eye on exports are looking to set operations in Tamil Nadu.

- Sanjay Vijayakumar

Speaking at session on Special Economic Zones as Engines of Economic Transformation, Anup Wadhawan, Former Union Commerce Secretary, says India is best alternative for realignment of global supply chains. Tamil Nadu is one of the biggest receiver of foreign direct investments and SEZs as a platform.

- Sanjay Vijayakumar

Speaking at session on Special Economic Zones as Engines of Economic Transformation on Day 2 of GIM, Alex Paul Menon, Development Commissioner, MEPZ SEZ says in the last one year, they have cleared applications in 11 working days. Tamil Nadu has the highest number of 56 operational SEZs.

- Sanjay Vijayakumar

Simon Wong, High Commissioner of the Republic of Singapore, on Sunday announced plans to invest ₹31,000 crore in Tamil Nadu. 

Speaking before the start of the country-specific session at the Global Investors Meet 2024, he recalled a visit by a Tamil Nadu delegation, led by Chief Minister M.K. Stalin, to Singapore last year to invite investors to the GIM.

“I have to report to all the guests here that we have been long-standing partners of Tamil Nadu for centuries. Because of his team and the efforts of Guidance Tamil Nadu, we made a commitment to visit the GIM in a big way. There are around 80 business people. We are committed to ₹31,000 crore in investments in Tamil Nadu... Being the first partner country of Tamil Nadu, we want to assure [the State] that our journey together will be a long-standing one,” he said.

A slew of MOUs were exchanged on January 7. The key among them was a pact signed by the State government with Vietnamese electric vehicle (EV) maker VinFast for setting up its plant in Thoothukudi with a proposed investment of ₹16,000 crore.

Tata Electronics signed an MoU expressing an interest to invest ₹12,082 crore for an enclosure manufacturing and mobile phone assembly unit in Krishnagiri district and the project will generate over 40,500 jobs.