Tamil Nadu secures 92 investment pacts totalling Rs 24,000 crore at Hosur meet - Details here
In his speech, Tamil Nadu CM MK Stalin stressed that his recent visits to Germany and the UK brought Rs 15,516 crore worth of investments to Tamil Nadu.
In its bid to become a USD 1 trillion economy, the state of Tamil Nadu is leaving no stone unturned and maintaining the growth momentum. In a recent step, the government of Tamil Nadu signed a total of 92 Memoranda of Understanding (MoUs) amounting to Rs 24,307 crore at the TN Rising Investment Conclave in Hosur. This is expected to create almost 49,353 jobs.
Hosur International Airport
The land acquisition process for Hosur International Airport was also started at the event, which was the second such gathering, followed by the one hosted in Thoothukudi in August.
In his speech, Tamil Nadu CM MK Stalin stressed that his recent visits to Germany and the UK brought Rs 15,516 crore worth of investments to Tamil Nadu.
Stalin noted, “This shows that we have surpassed our own record. We have set the goal to become a trillion-dollar economy by 2030. For this, the state economy should gallop with the support of industries. We are making infrastructure more industry-friendly to attract investments. TN has 11.19% of the nation’s GSDP. Since assuming power in 2021, the DMK government has converted 77% of MoUs into investments.”
“The , organised by the Tamil Nadu Startup and Innovation Mission, to be held on October 9 and 10 in Coimbatore, will bring together entrepreneurs and investors from across the globe,” Stalin added.
Laid Foundation For Four Projects
The CM also laid the foundation for four projects, amounting to Rs 1,210 crore. The projects are slated to provide employment opportunities to almost 8,000 people in several sectors, including automobile, health, and footwear.
The 92 MoUs that were signed pertained to International Aerospace Manufacturing Private Limited, which is a joint venture between Rolls-Royce and Hindustan Aeronautics Ltd. It committed an investment of Rs 200 crore and is expected to create 69 jobs. Another significant agreement was with Zetwerk Electronics, which pledges Rs 5,000 crore. It can potentially employ almost 3,000 people.