Tamil Nadu attracted investment proposals worth ₹4 lakh cr in 4 years

G Balachandar Updated - March 22, 2023 at 08:36 PM.
DS Rawat, Chairman, MSME Export Promotion Council.

Tamil Nadu has attracted new investment proposals of more than ₹4 lakh crore in the last 4 years, thereby generating over 50,000 new direct employment opportunities, according to a study by the New Delhi-based MSME Export Promotion Council and Confederation of Organic Food Producers & Marketing Agencies. 

In 2021-22, the state received new investment proposals worth ₹85,831 crore and during the pandemic-hit 2020-21 too it attracted investments worth ₹85,557 crore.

“While the new investment in most of the states had slowed down considerably, Tamil Nadu continued to be investors’ favoured destination,” said DS Rawat, Chairman, MSME Export Promotion Council. .

During 2019-20, the new investment projects announced were at ₹81,406 crore. During three years between FY19-FY21, over ₹72,000 crore worth of projects were completed.

Since May 2021, the state government has signed 221 agreements for investment commitments worth ₹2,70,020 crore with employment potential for more than 3.89 lakh people.

The state government has provided ₹519 crore as subsidies to the MSMEs to support their growth. Also, five new industrial estates over an area of 255 acres have been set up mainly to support MSME units. Another eight new industrial estates, over a total acre of 538 acres are on the anvil.

Published on March 22, 2023 15:04

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