Tamil Nadu bags investments worth Rs 6.6 lakh crore at GIM 2024: CM Stalin
Investment proposals to create 26.9 lakh direct and indirect jobs in the southern state, as per announcements made at the two-day Global Investors Meet 2024 in Chennai
- Jan 8, 2024,
- Updated Jan 8, 2024 8:13 PM IST
Businesses have made a cumulative commitment to invest over Rs 6.6 lakh crore in Tamil Nadu with a potential to create 26.9 lakh direct and indirect jobs, the government announced on Monday at the end of the two-day Global Investors Meet 2024 in capital city Chennai.
Tata Power Renewable Energy’s Rs 70,800 crore towards renewable energy and electronics, Adani Group’s Rs 39,268 crore across renewable energy, city gas distribution and data centre as well as Sembcorp’s Rs 36,238 crore into renewable energy were among the top announcements announced. Some of these include sums announced previously. The investment proposals span sectors such as green energy, non-leather footwear, automobiles, defence and space, among other sectors.
"I am happy and proud to inform this august gathering that due to our tireless efforts and your participation during this Global Investors’ Meet we have attracted an unprecedented Rs 6,64,180 crore of investments. A total of 26,90,657 jobs are expected to be generated from these investments that includes direct employment for 14,54,712 persons.,” said Tamil Nadu Chief Minister MK Stalin at the event.
Top industrialists such as Adani Ports and SEZ CEO Karan Adani, TAFE Chairperson Mallika Srinivasan, Mahindra & Mahindra Chairperson Anand Mahindra, Tata Power Company Limited CEO &MD Praveer Sinha and Saint Gobain Asia Pacific & India CEO Santhanam B were in attendance at the Monday event.
The two-day event also saw the industrialised southern state announcing a Semiconductor and Advanced Electronics Policy, a Private Public Partnership policy as well as a roadmap to achieve its target of becoming a $1-trillion economy by 2030.
On Day 1, Vietnamese EV firm Vinfast made a commitment of Rs 16,000 crore to set up a fully integrated EV manufacturing unit in Thoothukudi district, while Tata Electronics and JSW Steel made commitments of Rs 12,082 crore and Rs 12,000 crore, respectively.
Speaking virtually on Sunday, Reliance Industries Chairman Mukesh Ambani said his firm will open a data centre in Chennai next week in partnership with Canada's Brookfield Asset Management and US-based Digital Reality. “Reliance has committed to making new investments in Tamil Nadu in renewable energy and green hydrogen,” he said.
Diversified conglomerate JSW Group’s Chairman Sajjan Jindal said on Sunday, "We have so far invested over Rs 15,000 crore in Tamil Nadu and I plan to double that investment over the next few years and propose to invest further in a 1,000 MW of pump storage project and a 1,000 MW of wind power energy."
On Sunday, Godrej Consumer Products Limited (GCPL) announced the ground breaking ceremony of a new factory in Chengalpattu district near Chennai at an investment of Rs 515 crore. GCPL's Executive Chairperson Nisaba Godrej said: “Tamil Nadu is the biggest premium soap market. We will make Cinthol and other brands like Goodknight at the new factory at Chengalpattu. This facility will be a lighthouse facility with at least 50% women and 5% LGBTQ members employed.”
Businesses have made a cumulative commitment to invest over Rs 6.6 lakh crore in Tamil Nadu with a potential to create 26.9 lakh direct and indirect jobs, the government announced on Monday at the end of the two-day Global Investors Meet 2024 in capital city Chennai.
Tata Power Renewable Energy’s Rs 70,800 crore towards renewable energy and electronics, Adani Group’s Rs 39,268 crore across renewable energy, city gas distribution and data centre as well as Sembcorp’s Rs 36,238 crore into renewable energy were among the top announcements announced. Some of these include sums announced previously. The investment proposals span sectors such as green energy, non-leather footwear, automobiles, defence and space, among other sectors.
"I am happy and proud to inform this august gathering that due to our tireless efforts and your participation during this Global Investors’ Meet we have attracted an unprecedented Rs 6,64,180 crore of investments. A total of 26,90,657 jobs are expected to be generated from these investments that includes direct employment for 14,54,712 persons.,” said Tamil Nadu Chief Minister MK Stalin at the event.
Top industrialists such as Adani Ports and SEZ CEO Karan Adani, TAFE Chairperson Mallika Srinivasan, Mahindra & Mahindra Chairperson Anand Mahindra, Tata Power Company Limited CEO &MD Praveer Sinha and Saint Gobain Asia Pacific & India CEO Santhanam B were in attendance at the Monday event.
The two-day event also saw the industrialised southern state announcing a Semiconductor and Advanced Electronics Policy, a Private Public Partnership policy as well as a roadmap to achieve its target of becoming a $1-trillion economy by 2030.
On Day 1, Vietnamese EV firm Vinfast made a commitment of Rs 16,000 crore to set up a fully integrated EV manufacturing unit in Thoothukudi district, while Tata Electronics and JSW Steel made commitments of Rs 12,082 crore and Rs 12,000 crore, respectively.
Speaking virtually on Sunday, Reliance Industries Chairman Mukesh Ambani said his firm will open a data centre in Chennai next week in partnership with Canada's Brookfield Asset Management and US-based Digital Reality. “Reliance has committed to making new investments in Tamil Nadu in renewable energy and green hydrogen,” he said.
Diversified conglomerate JSW Group’s Chairman Sajjan Jindal said on Sunday, "We have so far invested over Rs 15,000 crore in Tamil Nadu and I plan to double that investment over the next few years and propose to invest further in a 1,000 MW of pump storage project and a 1,000 MW of wind power energy."
On Sunday, Godrej Consumer Products Limited (GCPL) announced the ground breaking ceremony of a new factory in Chengalpattu district near Chennai at an investment of Rs 515 crore. GCPL's Executive Chairperson Nisaba Godrej said: “Tamil Nadu is the biggest premium soap market. We will make Cinthol and other brands like Goodknight at the new factory at Chengalpattu. This facility will be a lighthouse facility with at least 50% women and 5% LGBTQ members employed.”