Tamil Nadu Chief Minister MK Stalin will lead a delegation to Japan and Singapore on May 23 to extend the invitation to various industrialists and government officials for the Global Investors Meet (GIM) to be hosted by the State in Chennai in January 2024.
“My appreciation to the smart work of the industries department in arranging an MoU signing event with a Japanese company as a precursor to my visit,” Stalin said at an MoU signing by Mitsubishi Electric with the State government for investing ₹1,891 crore in a new AC and compressor factory near Chennai.
“Tamil Nadu is the second largest economy in the country. I have set a target of making Tamil Nadu a $1 trillion economy by 2030. The investment by Mitsubishi is a major milestone in the march towards this target, he said. These investments will boost the State’s journey towards the target and also create a huge positive impact,” he added.
Preferred investment destination
Tamil Nadu has always been a preferred investment destination, particularly for Japanese investors. Many Japanese companies have established their projects here.
The State is home to three out of the 12 Japan industrial townships as part of the ‘Japan-India Investment promotion partnership’. The largest number of Japanese expats in India are in Tamil Nadu.
“As a step ahead to strengthen this relationship, I will be leading a delegation to Japan by the end of this month. I plan to meet leading industrialists and government officials and invite them to attend the GIM 2024 and invest in Tamil Nadu,” Stalin said.