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January 07, 2024 10:23 am | Updated January 08, 2024 10:11 am IST
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(From left) M.K. Stalin, Tamil Nadu Chief Minister along with Piyush Goyal, Union Minister of Commerce Industry, Consumer Affairs, Food and Public Distribution and Textiles, T.R.B. Rajaa, T.N. Minister for Industries, Investment Promotions and Commerce, Venu Srinivasan, Chairman, TVS Motors and foreign delegates, at the inauguration of Tamil Nadu Global Investors Meet 2024 on January 7, 2024 | Photo Credit: M. Vedhan
The two-day Tamil Nadu Global Investors Meet (GIM), the government’s ambitious big-ticket event, opened on January 7 at Chennai Trade Centre. This edition, which will have 9 partner countries and more than 30 participating nations.
The slogan of a $1 trillion economy has been one of the most vociferous of the Stalin government since May 2021.
Also read | Several countries evince interest in signing MoUs at GIM 2024
While Tamil Nadu has held two previous editions of the GIM, on 2015 and 2019, this will be the first under the M.K. Stalin government.
Also read | Tamil Nadu Global Investors Meet Day 2 LIVE Updates
The government’s aim is to create more jobs for the youth and women workforce in the rural areas. One other area that has seen some development is the Krishnagiri and Hosur regions. The electric vehicles manufacturing market in that region is booming.
Stating that Tamil Nadu has always been a land of rich cultural and intellectual heritage, Mr. Ambani said under the leadership of chief minister M.K. Stalin, the state has become one of the most business friendly states in the country.
“Therefore, I have every reason to believe it will soon become a trillion-dollar economy, which is the apt slogan of this summit,” he said.
Reliance, he said, has partnered in Tamil Nadu’s growth over the years.
It opened nearly 1,300 retail stores across the state, investing over ₹25,000 crore. Jio, the telecom arm of the group, has invested over ₹35,000 crore in Tamil Nadu, bringing the fruits of digital revolution to 35 million subscribers in every town and village in the state.
In December, Jio completed the fastest roll-out of 5G, anywhere in the world, he said. “This will enable Tamil Nadu to reap the benefits of artificial intelligence and other breakthrough fourth industrial revolution technologies, which will further accelerate its economy.” Mr. Ambani said Reliance has committed to making new investments in Tamil Nadu in renewable energy and green hydrogen. – PTI
Billionaire Mukesh Ambani on Sunday said his firm Reliance Industries in partnership with Canada’s Brookfield will open a data centre in Chennai next week, marking entry into the fast-growing market.
Reliance had in July last year invested about ₹378 crore to enter an existing joint venture, where Brookfield Infrastructure and U.S.-based realty estate investment trust Digital Realty were already partners. The three own 33% each in the venture.
Speaking at the Tamil Nadu Global Investors Meet, Mr. Ambani, chairman and managing director of Reliance Industries Ltd, said his group is investing in renewable energy and green hydrogen as well as in setting up a data centre in the state.
“Reliance has partnered with Canada’s Brookfield asset management and U.S.-based Digital Reality to set up a state-of-the-art data centre, which will be opened next week,” he said. – PTI
The proposed Chennai Greenfield international airport is all set to make Tamil Nadu the logistics hub of Southeast Asia.
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Speaking at panel discussion on big bets for Tamil Nadu’s trillion dollar economy, Arvind Subramanian and Raghuram Rajan, members of Tamil Nadu Chief Minister Economic Advisory Council say Tamil Nadu’s $1 trillion economy by 2030 is a ambitious target. Arvind Subramanian says the target means the State has to grow at 18 percent for the next 7 years.
Raghuram Rajan said, “We have capability to shift to higher end manufacturing. Tamil Nadu has the Quality of education and infrastructure and government support for shifting to high end manufacturing. – Sanjay Vijayakumar
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Hyundai – additional ₹1,180 crore investment in Tamil Nadu
Qualcomm – ₹177 crore; employment – 1600
First Solar – ₹5,600 crore in Kancheepuram
Godrej – ₹515 crore in Chengalpattu
TATA electronics – ₹12,082 crore at Krishnagiri; employment – 40,500
Pegatron – ₹1000 crore in Chengalpattu; employment – 8,000
JSW – ₹12,000 crore in Thoothukudi and Tirunelveli; employment – 6,600
TVS group – ₹5,000 crore; employment – 500
Mitsubishi – ₹200 crore in Gummidipoondi
A.P. Moller Maersk, Singapore
Vin Fast – ₹16,000 crore in Thoothukudi
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Jeff Maggioncalda, Chief Executive Officer, Coursera said 2.3 million people from Tamil Nadu are learning e-courses through Coursera.
In a video message, Mukesh Ambani, Chairman, Reliance Industries says he is committed to make new investments in renewable energy and green hydrogen projects in Tamil Nadu.- Sanjay Vijayakumar
Tamil Nadu Chief Minister M.K. Stalin says the Global Investors Meet 2024 is hosted for attracting investments, creating jobs and showcasing strengths of the State. Tamil Nadu plays a key role in India’s development and that is why he has set a target of $1 trillion economy by 2030.He added that industries have been attracted in backward districts and that Tamil Nadu is the leading state in attracting investments and is the most welcoming state at the global stage.
– Sanjay Vijayakumar
Industries Minister T.R.B. Rajaa highlighted on how TamilNadu has been in the top slot across several sectors and he also pointed out how schemes doled out by the State government has helped people. “We have one doctor for every 250 people, which is comparable to Scandinavian countries. We also produce over 1,50,000 engineers every year,” he added. “Through this Global Investors meet, we aim to showcase that along with the economic growth of the state, Tamil Nadu also ensures diversity, equality and inclusivity, while always keeping sustainability in focus.”
– Sangeetha Kandavel
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Aligned with the Hyundai Hydrogen Vision, the goal is to help foster a worldwide Hydrogen Society by making hydrogen readily used for everyone, everything and everywhere. As part of this, we are collaborating with the Government of Tamil Nadu and we will sign an MoU to establish a dedicated ‘Hydrogen Resource Centre,’ in association with the IIT-Madras. This facility will act as an incubation cell to develop a framework for localization of hydrogen ecosystem,”said Unsoo Kim, Managing Director of Hyundai Motor India. – Sangeetha Kandavel
Unsoo Kim, Managing Director of Hyundai Motor India said: Hyundai Motor India has signed an MoU with the Government of Tamil Nadu for an investment of ₹6,000 crore, as part of our long-term commitment to the state. This is in addition to the ₹20,000 crore investment set aside last year to augment our efforts in electric vehicle manufacturing, charging infrastructure, and skill development. – Sangeetha Kandavel
The Central government and State government will work together to ensure possible step for India to grow: Union Minister for Commerce and Industry Piyush Goyal – Dennis Jesudasan
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Vietnam’s VinFast exchanges MoU with the Tamil Nadu government for investment of ₹16,000 crore at an electric vehicle manufacturing facility in Thoothukudi. – Sanjay Vijayakumar
On the call of Union Minister for Commerce and Industry Piyush Goyal, participants of the Tamil Nadu Global Investors Meet give a standing ovation to ISRO scientists over the success of India’s first solar mission Aditya-L1. – Dennis Jesudasan
During the inaugural of the Global Investors Meet 2024, the Tamil Nadu government signed MoUs with the following companies:
– Dennis Jesudasan
Tamil Nadu Chief Minister M.K. Stalin releases report on roadmap to achieve $1 trillion economy by 2030. – Sanjay Vijayakumar
Sajjan Jindal, MD, JSW says Tamil Nadu is home to highest number of factories in India. Tamil Nadu is second biggest economy. The state can achieve $1trillion economy target due to its policy framework, labour force. He says despite change of governments, policies have been industrial friendly. – Sanjay Vijayakumar
We will be making a contribution to the Chief Minister’s Public Relief Fund today towards relief for floods, said Nisaba Godrej, Executive Chairperson, Godrej Consumer Products – Dennis Jesudasan
Tamil Nadu chief Minister M.K. Stalin and Union Commerce and Industry Minister Piyush Goyal inaugurates First Solar’s vertically integrated solar manufacturing facility in Sriperumbudur along with First Solar CEO Mark R. Widmar. – Sanjay Vijayakumar
TATA Electronics to invest ₹12,082 crore in Tamil Nadu. Pegatron to invest ₹1,000 crore. TVS to invest ₹5000 crore for its expansion plans. – Sangeetha Kandavel
Chief Minister M. K. Stalin launched the Tamil Nadu Semiconductor and Advanced Electronics policy.
Chief Minister M.K. Stalin inaugurated the Qualcomm new design centre. The centre was set up with an investment of ₹177.27 crore and will provide jobs to over 1600 people.
– Sangeetha Kandavel
TEPL, Pegatron, TVS, Hyundai, JSW, Ashok Leyland, AP Miller Maersk and Mitsubishi will be signing MoUs with the Tamil Nadu government today.
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Image credit: Special Arrangement
This edition, which will have 9 partner countries and more than 30 participating nations, will see the Tamil Nadu government releasing a report on the roadmap to make the State achieve a $1 trillion economy goal by 2030. This slogan of a $1 trillion economy has been one of the most vociferous of the Stalin government since May 2021.
Tamil Nadu Chief Minister M.K. Stalin, Union Minister for Commerce Piyush Goyal and other dignitaries arrived at the venue of GIM for the inaugural.
– Dennis Jesudasan
The Tamil Nadu Global Investors Meet (GIM), the government’s ambitious big-ticket event, will take place on January 7 and 8, at Chennai Trade Centre. While Tamil Nadu has held two previous editions of the GIM, on 2015 and 2019, this will be the first under the MK Stalin government.
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