Coimbatore : Tamil Nadu The government on Tuesday 59. Put signature on Memorandum of understanding 35,208 crore for projects in sectors including aerospace and defence, to create 76,795 direct jobs.
MoU exchanged in the presence of Chief Minister MK Stalin At the ‘Tamil Nadu – Investors’ First Port of Call’ Conclave held at Codisia Centre, Coimbatore. “The day is not too far for the state to achieve its goal of becoming a $1 trillion economy,” Stalin said at the event. “Given the pace of investment and development, Tamil Nadu will soon become the number 1 state in the country,” the chief minister said.
The MoU with seven companies with an investment of Rs 485 crore in manufacturing of aerospace and defense systems was expected to give a thrust to defense corridor projects in the state. The new agreements also give impetus to the textile, cement and dairy sectors and could turn Tamil Nadu into an e-vehicle manufacturing hub in the next few years.
whereas TVS Motor Company Investing Rs 1,200 crore in an EV manufacturing unit in Krishnagiri, Simple Energy Pvt Ltd and BUMA Innovative Transport Solutions will invest Rs 1,000 crore to set up units in Dharmapuri/Krishnagiri and Coimbatore. Rapti Energy Private Limited Will invest 470 crores in another unit.
This is the third time after the DMK came to power in May this year that an ‘investment conference’ has been held for the signing of several MoUs. In July, 35 MoUs attracting investment of ₹17,141 crore were signed, followed in September for 24 projects worth ₹2,120 crore — both promising to generate thousands of jobs across sectors . Stalin said Tamil Nadu has been able to attract these investments despite challenges such as Covid and the outbreak of monsoon. These investments demonstrated the trust shown by the investors in Tamil Nadu.
Stalin also laid the foundation stone for 13 projects worth Rs 13,413 crore and started commercial production of 10 projects set up with an outlay of Rs 3,928 crore. A government source said that these 82 projects will provide employment to more than 92,000 people.
Stalin said the investment is spread over 22 districts, from Tuticorin in the south to Kancheepuram in the north and Coimbatore in the west, so that youth can get jobs closer to their homes. The chief minister unveiled a fintech policy for the state and released a handbook on aerospace and defense systems, besides launching an advanced single-window mobile app to help investors track project approvals.
MoU exchanged in the presence of Chief Minister MK Stalin At the ‘Tamil Nadu – Investors’ First Port of Call’ Conclave held at Codisia Centre, Coimbatore. “The day is not too far for the state to achieve its goal of becoming a $1 trillion economy,” Stalin said at the event. “Given the pace of investment and development, Tamil Nadu will soon become the number 1 state in the country,” the chief minister said.
The MoU with seven companies with an investment of Rs 485 crore in manufacturing of aerospace and defense systems was expected to give a thrust to defense corridor projects in the state. The new agreements also give impetus to the textile, cement and dairy sectors and could turn Tamil Nadu into an e-vehicle manufacturing hub in the next few years.
whereas TVS Motor Company Investing Rs 1,200 crore in an EV manufacturing unit in Krishnagiri, Simple Energy Pvt Ltd and BUMA Innovative Transport Solutions will invest Rs 1,000 crore to set up units in Dharmapuri/Krishnagiri and Coimbatore. Rapti Energy Private Limited Will invest 470 crores in another unit.
This is the third time after the DMK came to power in May this year that an ‘investment conference’ has been held for the signing of several MoUs. In July, 35 MoUs attracting investment of ₹17,141 crore were signed, followed in September for 24 projects worth ₹2,120 crore — both promising to generate thousands of jobs across sectors . Stalin said Tamil Nadu has been able to attract these investments despite challenges such as Covid and the outbreak of monsoon. These investments demonstrated the trust shown by the investors in Tamil Nadu.
Stalin also laid the foundation stone for 13 projects worth Rs 13,413 crore and started commercial production of 10 projects set up with an outlay of Rs 3,928 crore. A government source said that these 82 projects will provide employment to more than 92,000 people.
Stalin said the investment is spread over 22 districts, from Tuticorin in the south to Kancheepuram in the north and Coimbatore in the west, so that youth can get jobs closer to their homes. The chief minister unveiled a fintech policy for the state and released a handbook on aerospace and defense systems, besides launching an advanced single-window mobile app to help investors track project approvals.
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