Tamil Nadu’s Global Investors Meet (GIM) 2019 has garnered investment commitments of ₹3,00,431 crore. As many as 304 MoUs were signed as the two-day event came to a close on Thursday. This information was revealed by Chief Minister Edappadi K Palaniswami at the valedictory session of GIM, which was presided by Vice-President M Venkaiah Naidu.

The proposed investments — mostly involving brownfield expansion of large and medium corporates and numerous projects across non-traditional sectors — are expected to generate 10.50 lakh jobs.

In the first edition of GIM, in 2015, the State government had signed 98 MoUs for ₹2.42 lakh--crore, with manufacturing and energy-related investments accounting for bulk of the sum.

The second edition of GIM had three key focus areas — equitable industrial development, hand-holding of existing investors and support to the MSME sector, where over 12,000 MoUs were inked.

Also, the TN government has focussed on the aerospace and defence sectors this time, announcing a comprehensive policy to attract defence majors, both Indian and foreign, with attractive incentives. It has also announced an industrial park in Sriperumbudur, specifically for the sector.

GIM 2019 managed to push some new investments to regions other than Chennai to ensure balanced industrial development across the State. This time, the State government focussed on attracting not only new investors, but also retaining the existing ones.

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Published on January 24, 2019