CHENNAI: Tamil Nadu exceeded its own expectations of the Global Investors Meet 2024, signing MoUs worth more than 6.6 lakh crore with the potential to create 14.5 lakh direct jobs as the two-day meet ended on Monday. This was more than double the value of MoUs signed in the 2019 edition of GIM. The state had earlier anticipated MoUs worth around ₹5 lakh crore during GIM 2024.
Companies dealing with electronics, automotives, electric vehicles, renewable energy, non-leather footwear and GCCs (global capability centres) exchanged investment MoUs with the state industry secretary in the presence of chief minister M K Stalin at the valedictory ceremony on Monday.Over the two days, the CM also laid the foundation stone for three projects – Godrej, Zhong Bhu and Pou Chen – with investment commitment of 2,871 crore. Top investment commitments are from Tata Power (70,800 crore), Sembcorp (37,538 crore), Adani Group (42,768 crore), Vinfast (16,000 crore) and Tata Electronics (12,082 crore).
Homegrown majors such as Hinduja Group (Ashok Leyland), Royal Enfield, TAFE and Ramco Cements also signed expansion MoUs. Aerospace major Boeing, logistics firm UPS and Hitachi signed commitments to expand their GCCs in Chennai. “GIM 2024 has emerged as a watershed moment for the TN economy.
In TN’s history, it will be recalled as a milestone event and it will take us closer to the $1 trillion [economy by 2030] goal,” Stalin said. “Tamil Nadu has emerged as the first port of call for global industrialists and GIM 2024 has shown that to the world,” he added. He assured industrialists that necessary approvals will be processed for the new investments through single window clearance.
Work is on to capitalise on the momentum as Stalin is set to send industries officials to Spain to scout for investments later in January. Plans are also on to visit Australia and the US in the near future. “The two days of GIM 2024 have laid the foundation for the next big leap of industrialisation for TN,” industries minister T R B Rajaa said at the closing ceremony.
“We are looking at advanced electronics, EVs, semiconductors, advanced manufacturing, AI and other sectors along with mass job creators such as non-leather footwear,” he added. The industries department had earlier anticipated MoUs worth around Rs 5 lakh crore during the two-day meet. Rajaa had also noted that focus would be on creating quality jobs and achieving high conversions of the MoUs.
GIM 2024 is the third such event for Tamil Nadu but the first being organised by the DMK government. The first meet organized in 2015 by former chief minister J Jayalalithaa clocked investment MoUs worth around Rs 2.4 lakh crore.
The second meet, organised in 2019 by former CM Edappadi K Palaniswami, facilitated signing of MoUs for an investment of around Rs 3 lakh crore. The event saw participation of USA, UK, Japan, Australia, France, Germany, Denmark, Singapore, and South Korea. Panel discussions and fireside chats involving more than 150 speakers from various sectors were held across a total of 26 sessions. An exclusive buyer-seller meet was also conducted for micro, small and medium enterprises
Companies dealing with electronics, automotives, electric vehicles, renewable energy, non-leather footwear and GCCs (global capability centres) exchanged investment MoUs with the state industry secretary in the presence of chief minister M K Stalin at the valedictory ceremony on Monday.Over the two days, the CM also laid the foundation stone for three projects – Godrej, Zhong Bhu and Pou Chen – with investment commitment of 2,871 crore. Top investment commitments are from Tata Power (70,800 crore), Sembcorp (37,538 crore), Adani Group (42,768 crore), Vinfast (16,000 crore) and Tata Electronics (12,082 crore).
Homegrown majors such as Hinduja Group (Ashok Leyland), Royal Enfield, TAFE and Ramco Cements also signed expansion MoUs. Aerospace major Boeing, logistics firm UPS and Hitachi signed commitments to expand their GCCs in Chennai. “GIM 2024 has emerged as a watershed moment for the TN economy.
In TN’s history, it will be recalled as a milestone event and it will take us closer to the $1 trillion [economy by 2030] goal,” Stalin said. “Tamil Nadu has emerged as the first port of call for global industrialists and GIM 2024 has shown that to the world,” he added. He assured industrialists that necessary approvals will be processed for the new investments through single window clearance.
Work is on to capitalise on the momentum as Stalin is set to send industries officials to Spain to scout for investments later in January. Plans are also on to visit Australia and the US in the near future. “The two days of GIM 2024 have laid the foundation for the next big leap of industrialisation for TN,” industries minister T R B Rajaa said at the closing ceremony.
“We are looking at advanced electronics, EVs, semiconductors, advanced manufacturing, AI and other sectors along with mass job creators such as non-leather footwear,” he added. The industries department had earlier anticipated MoUs worth around Rs 5 lakh crore during the two-day meet. Rajaa had also noted that focus would be on creating quality jobs and achieving high conversions of the MoUs.
GIM 2024 is the third such event for Tamil Nadu but the first being organised by the DMK government. The first meet organized in 2015 by former chief minister J Jayalalithaa clocked investment MoUs worth around Rs 2.4 lakh crore.
The second meet, organised in 2019 by former CM Edappadi K Palaniswami, facilitated signing of MoUs for an investment of around Rs 3 lakh crore. The event saw participation of USA, UK, Japan, Australia, France, Germany, Denmark, Singapore, and South Korea. Panel discussions and fireside chats involving more than 150 speakers from various sectors were held across a total of 26 sessions. An exclusive buyer-seller meet was also conducted for micro, small and medium enterprises
