The DMK-led government attracted investments to the tune of ₹9.74 lakh crore ever since it assumed power in 2021.
Published Sep 01, 2024 | 1:00 PM ⚊ Updated Sep 01, 2024 | 1:00 PM
Tamil Nadu government said it attracted ₹9.74 lakh crore investment during the past three years, creating more than 31 lakh job opportunities. (Representational image)
Investments over the past three years created employment opportunities for 31 lakh people, according to the Tamil Nadu government’s industrial policy note.
The DMK-led government attracted investments to the tune of ₹9.74 lakh crore ever since it assumed power in 2021. Various incentives, focus on key sectors, and tailored policies brought in investments from India and abroad in various sectors.
As many of 631 Memoranda of Understanding were signed during the two-day Global Investors’ Meet in January. Once implemented, they would provide direct employment to 26,90,657 people and indirect employment to 14,54,712 people.
In August, 19 business projects with an investment of ₹17,616 crore were started, employing 64,968 people. Foundation stones for another 28 projects, with an investment of over ₹51 crore, were laid. They would employ more than 41,000 people.
Vietnam’s electric Vehicle manufacturer, Vin Fast invested ₹16,000 crore in Thoothukudi.
TATA Electronics, a greenfield venture of the Tata Group with expertise in manufacturing precision components, invested ₹12,082 crore at Krishnagiri. It would employ 40,500 people.
JSW, an Indian conglomerate with diversified interests, including steel, energy, infrastructure, cement, and more, invested ₹12,000 crore in Thoothukudi and Tirunelveli. As many as 6,600 people would benefit from the investment.
Hyundai invested an additional ₹6,180 crore. First Solar, an American solar technology company that produces advanced thin-film photovoltaic modules, invested ₹5,600 crore in Kancheepuram.
TVS Motor Company, a global two and three-wheeler manufacturer, invested ₹5,000 crore. The investment would guarantee employment for 500 people.
Pegatron, a Design and Manufacturing Service (DMS) company invested ₹1,000 crore in Chengalpattu. It would employ 8,000 people. The Godrej Group also invested ₹515 crore in Chengalpattu.
Mitsubishi, the global provider of electric and electronic equipment across various sectors, invested ₹200 crore in Gummidipoondi. US semicon firm Qualcomm invested ₹177 crore, guaranteeing employment for 1,600 people.
More than 130 Fortune 500 companies have invested in various sectors in Tamil Nadu. The government is working towards making the state a USD 1 trillion economy by 2030, the policy note said.
(Edited by Majnu Babu).
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