Tamil Nadu Aims for 70% Conversion Rate of Signed MoUs, Says Minister Rajaa

Tamil Nadu's Industries Minister TRB Rajaa expressed a commitment to converting a significant portion of Memoranda of Understanding (MoUs), aiming for a minimum conversion rate of 70%. This ambitious goal was announced following the signing of an MoU between the State government and US-based Corning International, involving a substantial investment of ₹1,003 crore and the creation of job opportunities for 840 individuals.

The announcement took place at the conclusion of the two-day Tamil Nadu Global Investors Meet (GIM) 2024, held on January 7 and 8, where Chief Minister MK Stalin disclosed that the state had secured record investments totaling ₹6.64 lakh crore. The investments are expected to generate more than 26 lakh jobs.

Speaking at the inauguration of Elcina's 13th Source India - Electronics Supply Chain Summit in Chennai, Minister Rajaa expressed pride in Tamil Nadu's consistent effort to sign MoUs. He highlighted the state's achievement of signing 631 MoUs on a single day during GIM, reflecting an investment potential of ₹6.64 lakh crore. However, Minister Rajaa emphasized that the focus is on job creation and the quality of jobs rather than the sheer amount of investment, echoing Chief Minister Stalin's priorities.

HBL