Tamil Nadu government on Saturday signed nine new Memorandum of Understandings (MoU) with various companies, including BYD of China; ITC Paperboard and Mitsuba Sical, with investment worth ₹5,027 crore and likely job creation of 20,351.
The MoUs were signed at the Investment and Skill Development Conclave organised by the Tamil Nadu government and presided over by Chief Minister Edappadi K Palaniswami.
The BYD India Pvt Ltd will establish a manufacturing facility for phone components with an investment of ₹2,800 crore and employ 11,000 persons. Ather Energy to set up a manufacturing facility for E-Vehicles and Lithium-Ion Battery in Hosur with an investment of ₹635.4 crore providing 4,321 jobs.
ITC Paper Board and Speciality Papers Division Unit will set up a paper board manufacturing unit with an investment of ₹515 crore , while Mitsuba Sical India Pvt Ltd will expand its product range of four-wheeler and two-wheeler components with an investment of ₹503.6 crore.
SNF Components Pvt Ltd and Bull Machines Pvt Ltd to set up manufacturing for construction equipment at Coimbatore with an investment of ₹98 crore. Shreevari Energy Systems Pvt Ltd will set up a unit in Thoothukudi district to manufacture structural components for thermal and wind energy production with an investment of ₹250 crore.
The Growth Link Overseas Company Ltd will expand its footwear manufacturing facility with an investment of ₹175 crore.
On the Tamil Nadu Defence Industrial Corridor, the government signed MoUs with Defence Research and Development Organisation and IIT Madras for knowledge partnership.
Skill Development MoUs
TVS Training and Services Ltd will establish Apex Skill development centre in the auto, auto component & machine tools. Sri Kauvery Medical Care India Limited, to develop a skill development centre in hospital & health care services. The Logistics Sector Skill Council to establish a skill development centre in transportation & logistics sectors. The public sector Bharat Petroleum Corporation Limited to establish an ITI at Sembodai in Nagapattinam District and the Power Grid Corporation of India will set up an ITI at Perumbakkam, Kanchipuram District.
TN attracts ₹19,000 cr investments
Palaniswami, in his speech, said that in the past ten months alone, Tamil Nadu had attracted 63 new MoU projects with an investment of ₹19,083 crore with employment generation for 83,800 people. This includes investments from Japan, Germany, South Korea, US and UAE.
He announced a new initiative to help investors in the State. The Industries Department and Tamil Nadu Skill Development Council will identify the skill sets needed by the investors.
The Council will train the youth according to such specific needs of the investors. The companies will have a say in the design of the programme and also in training. They can also select the suitable candidates from among those skilled under this programme, he said.
Skill Gap Assessment and Action Plan
Palaniswami also released the Skill Gap Assessment and Action Plan for Tamil Nadu, and District Skill Development plans for the State.
The Skill Gap Assessment report aims to assess and identify the skills required to support the state's economic growth while also catering to the aspirations of youth.
Some of the key findings include the convergence of skilling activities, encouraging increased participation of women in the labour force and strengthening of industry-academia collaborations.
There is a need to introduce short and long-term skill training in emerging areas such as electric vehicles, health care including Geriatric and paramedical care, automation and robotics, transportation and logistics.
The strong focus should be given on soft and communication skills to increase the employability of the youth. The report has also attempted to capture current labour force available and the estimated required labour force for the next six years, the report said.
The District Skill Development Plans for 32 districts have been prepared as an outcome of this study, taking into account the aspiration of the youth, industrial growth and skill infrastructure available in the district.
An MoU was signed with data pattern, with plans to invest an additional ₹50 crore in the defence sector for manufacturing radar and communication systems for defence applications.
Palaniswami inaugurated three projects - ZL Technologies, Kapisoft and Kloudlearn - for a total investment commitment of ₹112 crores for which MoUs were signed during his recent visit to the US.
Palaniswami also launched a new logo for Tamil Nadu Guidance Bureau and launched BIZ BUDDY portal — a grievance redressal mechanism for industries.
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.