Amid the Coronavirus outbreak, the Tamil Nadu state government has signed 17 Memorandums of Understanding (MoUs) with various national and multinational companies to create more employment opportunities in the state. These MoUs would be attracting the investment of Rs 15,128 crore and the government has estimated that it would create over 47,000 jobs in the state, which has been reporting more unemployments. 

Tamil Nadu Chief Minister Edappadi Palaniswami has taken to Twitter and said that the government has signed MoUs with 17 companies which would pour 15,128 crore investment and it would create 47,150 new jobs in the state. By asserting that the government would work towards creating more employment opportunities, he further stated that he has installed a Special Investment Promotion Task Force which would concentrate on promoting the investments. 

The Tamil Nadu government has signed the MoUs with the companies like Polymatech Electronics, Salcomp, Daimler India Commercial Vehicles, Dinex, Mando Automotive India ltd, Lai Investment Manager Pvt Ltd and most of the companies belong to various countries including Japan, China, the United States, Germany, Finland, Australia, the United Kingdom, and South Korea. 

According to the reports on this development, nine MoUs were signed in the presence of the Chief Minister, and the rest were approved through video-conferencing. The Chief Minister has stated that Tamil Nadu has the manpower with enormous skills with a good supply of water and electricity. He welcomed the investors to make their investments in the state.

The MoUs had been signed at a high time when the state has been witnessing a drift on the economic corridors in the wake of the outbreak and lockdown. The companies were shuttered and the industries were deserted as the lockdown has closed the operations and brought the economy to a standstill. 

According to the recent survey carried out by the Center for Monitoring Indian Economy (CMIE), Tamil Nadu's unemployment rate has drastically increased in April 2020. Unemployment in Tamil Nadu was greater than the national rate of 23.5%. The jobless rate has increased by 43.5% in points and closed April month with 49.8% while the rate stood at 6.3% in March 2020 and the current increase is huge than what the state had recorded in the past four years.