Nearly 5.5 lakh crore invested and more than 100 MoUs were signed for projects with major companies at the day one of ongoing Global Investors Meet (GIM) in Chennai. Major companies like Tata Electronics, Hyundai, Qualcomm, First Solar, Godrej, Tata, Pegatron, JSW, TVS, Mitsubishi, AB Molar Maersk and Vin Fast signed MoU on the first day of the summit.
Tamil Nadu Chief Minister M.K. Stalin inaugurated the third edition of Tamil Nadu’s Global Investor Meet at Nandambakkam trade center, Chennai on Jan 7. Piyush Goyal, Union Minister of Commerce and Industry and TRB Rajaa, Tamil Nadu Minister for Industries, along with many local and foreign delegates make their presence in the summit.
In which the Chief Minister signed MOUs with many leading international companies, lead the foundation stone for new projects and resuming unfinished projects of the companies
On the first day of the summit, MoUs for investment of Rs 50,634 crore were signed which will create huge employment for youngsters across rural and urban parts of Tamil Nadu.
TNs $1 trillion goal
Initially GIM 2024 was expected to attract investment of 5.5 lakhs crore. But Tamil Nadu Industries Secretary Arun Roy said that the target of attracting investment of Rs 5.5 lakh crore at the conference was achieved on the first day itself by more than 100 MoUs which have been signed on the first day.
Chief Minister Stalin has set the target of raising the economy of Tamil Nadu to one trillion US dollars. As part of it, Chief Minister Stalin inaugurated this two-day Global Investors Meet. Business leaders from more than 50 countries and more than 450 foreign delegates attended the conference.
Companies invested in GIM 2024
In this summit, the CM laid the foundation stone for the Manufacturing unit of Godrej consumer product limited which going to incest 515 crore. The most progressive part of this investment is Godrej’s commitment towards its inclusive workforce, that is they are going to employ 50% of women and 5% of people from LGBTQA+ and persons with disabilities.
Vin Fast, a Vietnam based electric vehicle manufacturer invested 16,000 crores to build an EV facility in Thoothukudi which is in the southern part of Tamil Nadu. Tata Electronics invested 12,082 crores to extend their manufacturing unit in Krishnagiri.
Hyundai Motors invested 6,180 to set up a Hydrogen Resource center in Kancheepuram. Petragon electronic manufacturing unit invested 1000 crores in Chengalpattu. Like this many companies came forward to invest throughout the state of Tamil Nadu.
