MK Stalin's big investment outreach: What we can expect from the latest investors' conclave?

In what has become Chief Minister MK Stalin's big investment outreach towards creating a base for more investments and job opportunities in the state, the Tamil Nadu government has on Tuesday signed 59 MoUs (Memorandum of Understanding) which will attract projects worth Rs 35,208 crore.

The Investment Conclave was held at Coimbatore and presided by the Chief Minister while ministers Thangam Thennarasu (Industries) and TM Anbarasan (Rural Industries) had also attended the event. According to reports, the conclave has witnessed the signing of MoUs in various sectors including aerospace and defence and the signed projects have been expected to create job opportunities for over 76,700 people.

Speaking at the event, MK Stalin said that attention should be given to manufacturing connected to the aerospace and defence sector. He said a scheme is being implemented with Coimbatore as a hub for the aerospace and defence manufacturing sector. He noted that big companies like L&T, TVS, and Lakshmi Machine Works are involved in investing in the aerospace and defence sector and appealed to the industries to make use of the proposed aero/defence park at Sulur.

In its statement, the government said that totally 82 initiatives, including 59 MoUs, 13 projects, 10 commercial production launches were made in the conclave, which will attract a total investment of Rs 52,549 crore. MK Stalin has reiterated that the government has been making efforts with the aim of attracting investments to the state to the tune of 10 billion US dollars in the next ten years in the aerospace and defence sector that would create job opportunities for over one lakh people.

The Chief Minister further unveiled the 'TN Fintech policy 2021', which comprises features like a Fine Tech City in Chennai and he also laid the foundation stone for 13 new/expansion projects worth Rs 13,413 crore in various fields, including solar power plants, manufacture of motor vehicle spare parts and data centres. MK Stalin has inaugurated the commercial production of 10 firms under various projects in different sectors, totally worth Rs 3,928 crore and it would provide jobs to 3,944 people.

He further said, "No one needs to have any doubts that Tamil Nadu will reach first place in India. I have that confidence." He noted that this has become the third investors' summit since DMK came to power. DMK formed the government in May and the first investors' meet was held in July and an exporters conclave was conducted in September and the government has now hosted the investors' conclave.