Memoranda of Understanding (MOUs) for 60 projects, entailing a cumulative investment of Rs.1,25,244 crore, were signed in the presence of Chief Minister M.K. Stalin at the “Tamil Nadu Investor’s First Port of Call’ investment conclave in Chennai on July 4.

These investments are expected to create jobs for 74,898 people in the State. The projects include areas covering several sectors including defence, textiles, information technology, capital goods, EVs and auto parts.

Tamil Nadu is expected to soon become the number 1 State in the Ease of Doing Business rankings, and the TN Government already taking steps to enable the State to move up from its current position.

Among the leaders present at the conclave were the TN Industries Secretary S. Krishnan, Minister ThangamThennarasu, Chief Minister M.K. Stalin, and Tata Power CEO PraveerSinSinha.

“We want to make Tamil Nadu a Smart State that is an tested example for the rest of the world. Tamil Nadu should become the most attractive destination in South Asia for and ‘Made in Tamil Nadu’ products should reach all corners of the world,” says TN Chief Ministe, Mr. M. K. Stalin.

On the occasion, TN Chief Minister also inaugurated 12 projects with an investment of Rs. 1,497 crore, provid employment to 7,050 persons. He laid the foundation stone for 21 projects.

In the last one year due to great efforts mounted by the Tamil Nadu Government, which was ranked 14 in 2020, had jumped to the third spot.

Some of the notable in vestments are being made by Tata Power, Lucas TVS, JSW Renew Energy, Infosys Ltd, Mastercard and PhonePe.

The TN Industries Minister ThangamThennarasusays while the rest of the country was going in a negative growth trajectory, Tamil Nadu was in a positive growth trajectory even during the pandemic.

On this occasion, TN Chief Minister also launched the Tecxperience programme to encourage FinTech adoption in the State. He also inaugurated the TN PitchFest, organised to provide a platform for start-ups.

Industries Secretary S. Krishnan says 78 of 132 MOUS signed last year are implementation, which marks a 60% conversion rate within a year.