TNPSC Thervupettagam

Tamil Nadu Global Investors Meet 2024

April 15 , 2024 65 days 1128 0

(இதன் தமிழ் வடிவத்திற்கு இங்கே சொடுக்கவும்)

An Introduction

  • The Tamil Nadu Global Investors Meet 2024, hosted by the DMK government, took place in Chennai Trade Centre on January 7 and 8.
  • The Chief Minister M.K. Stalin revealed plans to transform the state into a $1 trillion economy by 2030.
  • Tamil Nadu Government unveils official logo for Global Investors Meet 2024.
  • It is representing Tamil letter '' (tha) and symbolizing progress and prosperity.
  • The Tamil Nadu Global Investors Meet boosted the state's strong investment climate.
  • It is highlighting its exceptional industrial ecosystem and skilled workforce to global investors.
  • The core theme of the event were the core themes of leadership, sustainability, and inclusivity, driving the state towards its ambitious economic goals.

Participation and Collaboration

  • The event witnessed active engagement from nine partner countries.
  • It includes the USA, UK, Japan, Australia, France, Germany, Denmark, Singapore, and South Korea.
  • International partners like Western Australia and Taipei Economic & Cultural Centre (TECC) collaborated with the Government of Tamil Nadu, enhancing the event's global reach.

Investment commitments

  • A remarkable total of 631 MoUs were inked during the event.
  • It is reflecting an unprecedented investment commitment of Rs 6,64,180 crores.
  • These agreements are poised to generate direct employment for 14,54,712 individuals and total employment opportunities for 26,90,657 persons.
  • Investments span across various sectors, including advanced electronics, green energy, automotive, aerospace, and information technology, among others.

Policy Initiatives and Launches:

  • The event included the launch of the Tamil Nadu Semiconductor and Advanced Electronics Policy 2024 and the Public-Private Partnership Policy.
  • The Chief Minister also revealed "The Roadmap to Achieve a $1 Trillion Economy by 2030," outlining the state's economic plan.

Tamil Nadu's Economic Landscape:

  • Tamil Nadu, India's second-largest state economy and a pivotal industrial center, presents abundant investment prospects across various sectors.
  • Tamil Nadu's strong industrial base is backed by supportive governance, modern infrastructure, abundant resources, and skilled workforce, attracts global investors.
  • With continued progress, it aims to reach a trillion-dollar economy by 2030, ensuring sustainable growth and prosperity for all.

Renewable Energy and Sustainable Infrastructure Development

  • Tata Power is to expand solar plant in Tirunelveli with 70,800 crore investment, generating 3,800 jobs.
  • Adani Group is to invest 42,768 crore for Data Centre, renewable energy, city gas distribution, and more, employing over 10,000 people.
  • Sembcorp is to establish green hydrogen plant in Thoothukudi with 36,238 crore investment, creating 1,500 jobs.
  • Leap Green Energy is to set up green hydrogen power storage plant in Thoothukudi with 17,400 crore investment, providing over 3,300 jobs.
  • ZF Windpower is to expand renewable energy manufacturing in Coimbatore with 750 crore investment, creating 200 jobs.
  • Shall Markets India is to invest 1,070 crore in renewable energy project and Global Capacity Centre, generating 50,000 jobs.

Industrial Expansion and Technological Advancement

  • CPCL is to invest 17,000 crore in petrochemical and refinery units in Nagapattinam, creating 2,400 jobs.
  • L&T is to build Innovation Campus in Chennai with 3,500 crore investment, employing over 40,000 people.
  • Saint Gobain is to establish new units and expand existing ones in Kancheepuram, Tiruvallur, and Erode with 3,400 crore investment, creating 1,100 jobs.
  • Royal Enfield is to invest 3,000 crore, generating 2,000 jobs.
  • Salcomp is to expand electronics manufacturing in Kancheepuram with 2,271 crore investment, employing 15,000 people.
  • Stellantis Group is to invest 2,000 crore in car manufacturing in Tiruvallur.
  • Ramkrishna Titagarh Rail Wheels is to set up facility in Tiruvallur for train wheels with 1,850 crore investment, creating 1,400 jobs.
  • Mahindra is to build industrial parks and resorts with 1,800 crore investment, employing 4,000 people.
  • Festo India is to establish manufacturing facility in Krishnagiri with 520 crore investment, creating over 2,000 jobs.
  • Tata Chemicals is to build chemical complex in Ramanathapuram with 1,000 crore investment, creating 500 jobs.
  • Ramco Cements is to modernize facilities in Virudhunagar and Salem with 999 crore investment, creating 150 jobs.
  • ENES Ramaraj is to install units in 13 districts with 1,000 crore investment, creating 13,000 jobs.

Expanding R&D and Innovation Centers

  • Hitachi Energy is to expand R&D centre in Chennai with 100 crore investment, creating 1,500 jobs.
  • Fanuc India is to establish Robotics Experience Centre in Kancheepuram with 55 crore investment.
  • UPS India Technology Centre is to invest 44 crore in global capability centre in Chennai, generating 1,999 jobs.
  • Microsoft DC is to set up Data Centre in Chennai with 2,740 crore investment.
  • Sify Technologies is to build data centre with 2,500 crore investment, creating 300 jobs.

Footwear and Apparel Manufacturing Expansion

  • Long Yin Investment is to manufacture non-leather footwear with 1,500 crore investment, creating 22,000 jobs.
  • TKG Taekwang is to manufacture non-leather footwear with 1,250 crore investment, creating 9,000 jobs.
  • Shahi Exports is to install apparel units with 1,000 crore investment, creating 22,000 jobs.
  • Hong Fu Industrial Group is to manufacture non-leather footwear in Ranipet with 500 crore investment, generating over 22,000 jobs.

Healthcare and Pharmaceuticals

  • Kauvery Hospitals is to expand healthcare facilities in Tamil Nadu with 1,200 crore investment, creating 7,500 jobs.
  • Caplin Group is to establish pharmaceutical units and R&D facility across multiple locations with 700 crore investment, creating 1,500 jobs.

Aerospace and Defense Industry Growth

  • Boeing India is to expand aerospace R&D centre in Chennai with 309 crore investment, employing 500 people.
  • JAM Infra (Jindal Defence) is to set up aerospace components manufacturing unit with 1,000 crore investment, creating 800 jobs.

Automotive and Agricultural Machinery

  • Anand Group is to expand automotive and EV component manufacturing in three districts with 987 crore investment, creating over 1,300 jobs.
  • Hinduja Group is to expand business across multiple locations with 1,200 crore investment, creating 500 jobs.
  • TAFE is to broaden tractor range with 500 crore investment, generating 1,000 jobs.

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