The two-day Tamil Nadu Global Investors Meet 2024 (GIM2024) — the first one to be hosted by the ruling DMK government — will kick off on January 7 as the State government has set an ambitious goal to achieve a $1 trillion economy goal by 2030. The event is likely to chalk out a roadmap for the target and focus on distributed development across the State.

Union Commerce Minister Piyush Goyal will attend the inauguration along with Chief Minister MK Stalin. Sources said the target is to attract investments of ₹5 lakh crore.

The previous two investors’ meetings happened in 2015 — when J Jayalalithaa was the Chief Minister — and in 2019 — when Edapaddi K Palaniswami was the Chief Minister — during the AIADMK regime . While the first edition attracted ₹2.42 lakh crore worth of investment, and the second one managed to bring in ₹3 lakh crore. worth investments.

VinFast leads the list

Leading the list of investors at the third edition will be Vietnam’s VinFast which has said that it would set up a $2 billion integrated electric vehicle facility in the coastal town of Thoothukudi in southern Tamil Nadu. Many leading companies, including L&T and Boeing, are likely to sign MoUs during the event, sources said.

Singapore-based companies are set to sign MoUs worth S$5 billion ($3.7 billion) with the Tamil Nadu Government at the event. Singapore is one of the partner countries for the event.

GIM2024 will feature over 450 international delegates; 170 speakers, and representation from 50 countries. The event will have 26 leadership sessions. There is an MSME pavilion; Tamil Nadu ecosystem pavilion, several country pavilions and the Start-upTN pavilion — providing an opportunity for delegates to witness the industrial marvel of the State and foster business collaborations.

The event organised by the Tamil Nadu Industries Ministry and Guidance Tamil Nadu — the State’s investment promotion agency — is expected to attract over 30,000 participants.

Other States

Global investors meets have become an annual feature in many States in India. Soon after the Tamil Nadu event, the Gujarat government will organise the Vibrant Gujarat Global Summit between January 10 and 12. Prime Minister Narendra Modi will inaugurate the summit on January 10. Ahead of the summit, the State government on Wednesday said it had signed investment agreements worth ₹7.17 lakh crore with 58 companies in sectors like energy, oil and gas and chemical.

On December 8, 2023, the Prime Minister inaugurated the Uttarakhand Global Investors Summit in Dehradun. Investment proposals worth more than ₹3.5 lakh crore were received at the two-day event against a target of ₹2 lakh crore, Union Home and Cooperation Minister Amit Shah said on the concluding day.

In February 2023, the Prime Minister inaugurated the Uttar Pradesh government’s investors’ meet that attracted an investment of ₹32 lakh crore.