TN gets Rs. 72,000-crore investments ahead of GIM.

Postponing the Global Investors Meet (GIM) to September has turned out to be a welcome breather to officials in the Industries Department. Reason: The United Kingdom has a new government. With the change in date, the State expects a huge delegation from UK.

Also, two more firms in the automobile space have evinced interest in investing in the State in the past one week.

Twenty-five companies, both domestic and international, have already given their nod to invest in Tamil Nadu during the Global Investors’ Meet.

'In fact, when we postponed the date we got a call from UK that with more time they can decide on more investments. Many other partner countries gave the same feeler. In the last one week, we have received more enquires from companies,' an official of the Industries Department told The Hindu .

Of the Rs. 72,000 crore investment commitment the State has received so far, 50 per cent is domestic.

'The Rs 72,000 crore investments that we are talking about are confirmed deals. They are in various phases now like land allocation, package clearance and single window clearance,' the officer said. 'These investments are ‘Binding Obligation'. So firms would not back out,' he added confidently.

This time, the government claims that it wants to showcase southern districts as investment destination and has diverted more than 20 per cent of investments.

'Nearly 20 per cent of the GIM investments will be in southern districts,' the official said. Tuticorin seems to be emerging as a hot destination for land seekers with its sea port.

Another government official said that the maximum investments would be in the automobile space followed by the energy sector.



THE HINDU