Tamil Nadu government will host an investor conclave on July 4 and sign 60 investment agreements with the potential to create 60,000-70,000 jobs.
“In addition to signing the MoUs at the Conclave, the Chief Minister will also lay the foundation stone for 21 projects and inaugurate 12, said State Industries Minister Thangam Thennarasu.
In the last one year, the DMK government has signed 132 agreements amounting to ₹94,975 crore, with a job potential of 2.25 lakh. The State is also expected to create 90,000 jobs in the high-tech and emerging tech areas with Guidance, the nodal organisation for drawing and facilitating investments, is in discussion with 28 companies. These companies are likely to establish their projects in the Coimbatore and Madurai districts, he said.
The State has attracted investment despite the impact of the Covid pandemic, reflecting the confidence levels of investors in the State’s potential. In recent years, Tamil Nadu has also been attracting investments in electronics and semiconductors, electric vehicles, lithium-ion batteries, solar PV and green hydrogen, among others.
Discussing FDI in the State, Thennarasu explained that since investments of companies are recorded based on the headquarters of the company, other States may take the credit though investments would have actually come to Tamil Nadu.
On the Ford Chennai plant, Thennarasu said while some workers of Ford were accommodated in R&D operations of the company in India, negotiations are on before the Labour Commissioner on severance packages. “We expect a smooth resolution,” he added.
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