Inaugurating the Tamil Nadu's first ever Global Investors Meet in Chennai, Chief Minister Selvi J Jayalalithaa said the target of Rs 100,000 crore of investment commitment has been exceeded. The two-day Tamil Nadu Global Investors Meet (TNGIM) 2015 took off with a grand start amid much optimism and cheer as the State received investment commitments in excess of Rs 100,000 crore even before the meet formally commenced.
TNGIM is being organized with an objective to showcase the strengths of and opportunities in the state for potential investors across the globe and to invite them to participate in the state's progress towards inclusive growth and prosperity.
The two-day meet from September 9 to 10, 2015 was inaugurated by Tamil Nadu Chief Minister J Jayalalithaa. She was joined by the Minister of State for Commerce and Industry Ms Nirmala Sitharaman, Minister of State for Surface Transport, Highways and Shipping Mr Pon Radhakrishnan, Minister for Industries and Transport for Tamil Nadu Mr P. Thangamani, Ambassadors and High Commissioners of various countries, and delegates from India and abroad.
Expressing satisfaction over the response among prospective investors, the Chief Minister Jayalalithaa said, "We have already crossed our initial investment target of Rs 100,000 Crore. We expect more MoUs to be signed during the meet. Invest in Tamil Nadu. Invest in our shared future."
The Tamil Nadu Chief Minister also inaugurated three major industrial projects with a total investment of Rs 2,658 crore. This included India Yamaha Motor along with 9 vendor units putting in Rs 1,600 crore for a new 2-wheeler plant in Kancheepuram district with a capacity of 1.8 million units per annum, the TICEL Bio Park II at Taramani built at a cost of Rs 168 crore, and the expansion of TVS Motor Company at Hosur with an investment of Rs 800 crore.
TNGIM 2015 features a total of 25 seminars, specific to attending countries and industry, such as automotive, it hardware, agro, pharma and biotech, textiles, among others. A total of 348 exhibitors are participating at the meet.
Tamil Nadu is the most urban state in India, with close to half the state's population living in cities, sustained by the state's stable governance and enviable infrastructure that includes the second highest power generation capacity in the country, 20 industrial parks and 78 special economic zones for business and three international airports for global connectivity.
HCL chairman Shiv Nadar, in his speech at TNGIM, announced the company's intent to allocate $1 billion of investments around Madurai in southern Tamil Nadu.
Over the next two days, TNGIM shall bring together policymakers, industry experts, state institutions and entrepreneurs to deliberate on the future growth strategy. The nine partner countries are Australia, Canada, France, Japan, Italy, Russia, Republic of Korea, Singapore and the United Kingdom. The State Government is being assisted by national trade bodies such as Assocham, CII, FICCI and international organizations such as JETRO, KOTRA, MIBC and UK India Business Council.
