INDIA NEWS
Jan 16-31, 2024 - Vol 4, Issue 12
COMMUNITY NEWS
Tamil Nadu seals ₹6.64 lakh crore investment deals in Global Investors Meet 2024 Chennai, January 8 (Australia India News Newsdesk) Tamil Nadu has inked historic deals worth ₹6.64 lakh crore during the two-day Global Investors Meet 2024 that began in Chennai on January 7 and concluded on January 8. Media reports said that a total of 631 memorandums of understanding were signed during this investment summit, spanning sectors such as green energy, electric vehicles, global capability centers, and non-leather footwear. According to media reports, the proposed investments are
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anticipated to generate over 26 lakh direct and indirect jobs across the state, marking a significant boost to Tamil Nadu's economic landscape. TaChief Minister M K Stalin expressed his satisfaction with the unprecedented ₹664,180 crore in investments, emphasizing that these pledges will lay a robust foundation for the state's growth over the next two decades. Buoyed by investments from sectors in which it is a local leader, such as electronics and automobiles, Tamil Nadu aims to achieve balanced development across the region through the
distribution of investments. Chief Minister Stalin announced the formation of a committee to oversee the conversion of MoUs into actual investments, demonstrating the government's commitment to ensuring tangible outcomes, said media reports from India. Representatives from nine countries participated in the event, engaging in discussions with industry experts and economists, media reports say. According to media reports, notable investors include Tata Power, pledging ₹70,800 crore in the renewables sector,
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Sembcorp committing ₹37,538 crore, the Adani Group with an investment promise of ₹42,768 crore, and Leap Energy pledging ₹22,800 crore. Singapore's high commissioner announced an investment of ₹31,000 crore from companies in Singapore, while three Taiwanese footwear firms committed ₹3,750 crore.
featured the popular 'Village Cooking Channel' on YouTube, showcasing Tamil Nadu's cultural richness and technological advancements. The state tourism department's pavilion showcased interactive elements, including 'Elakkiah,' the robot, and a 3D-Jallikattu bull, capturing the attention of participants.
Media reports further said that a major deal on January 7 involved Vietnamese automaker VinFast Auto, which pledged ₹16,000 crore ($2 billion) to establish an electric vehicle factory in Thoothukudi. According these media reports, the event also
The Global Investors Meet 2024 highlighted Tamil Nadu's commitment to economic growth, job creation, and technological advancements, positioning the state as a hub for innovation and investment.
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