TAMIL NADU GLOBAL INVESTOR MEET 2024

By Kishorenath A

Introduction :

****The Tamil Nadu Global  Investor meet 2024 took place in Chennai on January 7th and 8th. Thousands of companies were invited for this International event .The event was hosted at the Chennai Trade Centre, with the participation of partners from 9 countries and representatives from 30 nations.Start up companies were also invited for this event. The main aim of the Tamil Nadu Global Investor Meet 2024 was to attain a 1 trillion dollar economy.It was organised by M. K. Stalin,Chief Minister of Tamil Nadu.

                                                             ***Reference :The Hindu News***

Motto of Tamil Nadu Global  investor meet 2024 :

                   Tamil Nadu aims to become a 1 trillion dollar economy by 2030, creating more employment opportunities and enhancing the well-being of the state.

Tamil Nadu Global Investor meet 2024:

• The third Tamil Nadu global investor meet was held on  7th and 8th january,2024  at chennai trade centre . It was organised by M. K. Stalin,Chief Minister of Tamil Nadu,with the motto of Tamil Nadu having become a 1 trillion dollar economy by 2030.           ****

                                                        ***Reference**  : T*HE HINDU News

• Tamil nadu global investor meet 2024 (GIM) attracted ₹6.64 lakh crore and 207 companies signed the MOU . It was a huge investment after the 2015 and 2019 Global investor meet .

Employment opportunities :

• Direct employment = 14 lakh 54 thousand 712 people.
• Indirect employment = 12 lakh 35 thousand 945 people.

Sector wise investment :

• Industries,investment promotion and commerce : ₹3,79,809 cr
• Energy : ₹1,35,157 cr
• Housing and urban development : ₹62,939 cr
• IT and digital services : ₹22,130 cr
• Small and medium scale enterprise : ₹63,573 cr

What are opportunities for investors to invest in Tamil nadu?

Economic :

• 9% of of India’s Overall GDP
• More than 8% Annual Growth Rate
• More than 11%of India’s Manufacturing GDP
• 9% of India’s Total Exports

Sustainability :

• Approximately 20 GW Installed renewable Energy Capacity
• 54% of Total Energy Capacity from Renewable Sources
• Approximately 35 GW Offshore Wind Energy Potential
• Tamil Nadu was top 10 rank in renewable Energy producing state in India

Infrastructure:

• One of 13 Advanced Manufacturing Hubs Worldwide
• 3 position in Advanced Manufacturing Centres of Excellence
• 2 position in Industrial Innovation Centres

Exports:

• 3rd Largest Exporting State in India
• 1st in Export Preparedness Index in India
• 4 International Airports
• 4 Major World-Class Seaports

Work force :

• 8.3% of India's total workforce
• Approximately 50% of the Nation’s Female Workforce
• 5 lakhs of Students Graduate Annually

Major investments of Tamil nadu global investor meet 2024:

• TATA power to invest ₹70,000 crore ,to set up 10 GW solar and wind projects in southern Tamil nadu.

• Adani groups to invest ₹42,768 crore in Tamil Nadu as follows :

  • Adani green energy -₹24,000 cr

  • Adani conex -₹13,200 cr

  • Adani total gas and CNG -₹1568 cr

  • Ambuja cements -₹3,500 cr

• CPCL to invest ₹17,000 crore for Petrochemical project in Nagapattinam.

• Singapore based Sembcorp to invest ₹36,238 crore for green hydrogen project in Tuticorin.

• UK based Shell to invest ₹1070 crore worth projects in Chennai.

• Microsoft to invest ₹2740 crore to set up a data centre in Chennai.

• TATA chemicals to invest ₹1000 crore for setting up manufacturing unit.

• Jindal infra to invest ₹1000 for crore aerospace manufacturing unit in Trichy.

• Royal Enfield to invest ₹3000 crore for expansion of the manufacturing unit in Kanchipuram.

Conclusion:

The Tamil Nadu global investor meet 2024 (GIM) attracted ₹6.64 lakh crore and 207 companies signed the MOU.It aims at huge employment opportunities and economic development of Tamil Nadu . The Government of Tamil Nadu assumed an estimated ₹5 lakh crore investment, but the signed MOUs exceeded 6 lakh crore. It serves as an indicator that Tamil Nadu will become a 1 trillion dollar economy by 2030.