Tamil Nadu: 2-Day Global Investment Summit Bags ₹6.64 Lakh Crore For State Development

Chennai: Tamil Nadu attracted a whopping investment commitment to the tune of over ₹6.64 lakh crore at the conclusion of its two day Global Investors Meet 2024 on Monday.

“We have attracted an unprecedented ₹6,64,180 crore of investments. A total of 26,90,657 jobs are expected to be generated from these investments that includes direct employment for 14,54,712 persons and indirect employment for 12,35,945 persons,” Chief Minister M K Stalin announced at the valedictory of the event at Chennai Trade Centre.

This is the first GIM to be held under his leadership. The previous two editions of the event were held during the erstwhile AIADMK regime in 2019 and 2015.

Stalin, who on Sunday released an ambitious roadmap to make Tamil Nadu a $1 trillion economy by 2030, said, “I can confidently say that this Global Investor Meet will be a watershed in Tamil Nadu’s industrial growth. This will leave an indelible mark in Tamil Nadu’s history. This conference will be spoken about for long time for its uniqueness and novelty.”

Several departments played a role in attracting investments across sectors such as Advanced electronics manufacturing, Green energy, Non-leather footwear, Automobiles, and e-vehicles Defence and aerospace Data centres Global capability centres Information Technology and Digital services.

Sector-wise breakup of investment funds for development

Giving a sector-wise break up of the investment commitment made at the event through MoUs, the Chief Minister said out of the total, investments worth ₹3,79,809 crores have been mobilised through the Department of Industries, Investment Promotions and Commerce; ₹1,35,157 crores by the Energy Department; ₹62,939 crores through the Housing and Urban Development Department; and ₹22,130 crores through the Information Technology and Digital Services Department.

Besides, ₹.63,573 crores has been generated by the MSME sector that provides an enabling support system to large industries. “These investments which are distributed all over the State, will ensure balanced regional development,” said Stalin.

Tamil Nadu to become a $1 trillion economy by 2030: Stalin

“We have set ourselves an ambitious target to make Tamil Nadu a 1 trillion USD economy by 2030 and to play a key role in India's economic growth. I am certain that the MoUs entered into today will aid us in reaching this goal,” he said.

Some of the big ticket MoUs were signed by Tata Power with a commitment to invest ₹70,800 crore, Adani Group for ₹42,768 crore and Sembcorp for ₹36,238 crore.