TN Global Investors Meet 2024 attracts record investments of ₹6.64-lakh crore

The chief minister of TN states that these investments should result in the creation of more than 26 lakh new employment. Record-breaking investments of ₹6.64 lakh crore were drawn to the Tamil Nadu Global Investors Meet 2024, surpassing the approximate amount of ₹5 lakh crore and more than doubling the amount invested in the preceding GIM in 2019. The Chief Minister MK Stalin's goal of the State having a $1 trillion GDP by 2030 will benefit greatly from the investment pledge. The statement is made one day before Gujarat's investors' summit, Vibrant Gujarat, which gets underway in Gandhinagar on Wednesday. The last two Tamil Nadu global investors' meetings took place in 2015, during the AIADMK government, with J Jayalalithaa serving as chief minister, and in 2019 with Edapaddi K Palaniswami serving as chief minister. Although investments of ₹2.42 lakh crore were solicited by the first edition, ₹3 lakh crore were managed by the second one. Leading the group During the two days of the event, nearly 600 enterprises, both large and small, signed Memorandums of Understanding with the Tamil Nadu government, with Tata Power leading the way. It plans to invest ₹70,800 crore in several regions, including Tirunelveli, to increase its presence.

The Adani group, which consists of Adani Green Energy (24,500 crore), Ambuja Cements (3,500 crore), Adani Connex (13,200 crore), and Adani Total Gas & CNG (1,568 crore), was the second-highest investor in the State. Third-largest investor, Sembcorp of Singapore, intended to contribute ₹36,238 crore. Leap Green plans to invest ₹22,000 crore in the districts of Tiruvannamali and Thoothukudi. Government data indicates that CPCL Ltd. proposes to invest ₹17,000 crore in Nagapattinam; L&T Innovation aims to invest ₹3,500 crore in Chennai; Saint Gobain expects to invest ₹3,400 crore; and Royal Enfield plans to invest ₹3,000 crore in Kanchipuram. On the first day, which was Sunday, it was revealed that Tata Electronics would be investing ₹12,082 crore to develop its Krishnagiri facility, while VinFast would be investing ₹16,000 crore to establish an integrated electric car manufacturing in Thoothukudi. For its expansion plans, TVS would invest ₹5,000 crore, while Pegatron will invest ₹1,000 crore.