A lot depends on the next investor meeting in Tamil Nadu and Gujarat

A lot depends on the next investor meeting in Tamil Nadu and Gujarat

A lot depends on the next investor meeting in Tamil Nadu and Gujarat

In an attempt to get more time for talks before to the general elections, both states will compete with one another to sign MOUs at business conferences.

This will be one of the finest things that has happened to India, with both Gujarat and Tamil Nadu being able to draw in large sums of investment.

There isn't a finer show when it comes to business summit contests than what we are about to see in January 2024. Tamil Nadu and Gujarat, India's two most industrialized states, are governed by political parties with radically different ideologies. Go up against one another. In a year when the Lok Sabha elections are also scheduled, their back-to-back international investor gatherings will attempt to establish who has stronger credentials that are business-friendly.

The Vibrant Gujarat Global Summit is set for January 10–12, 2024, while the Tamil Nadu Global Investors Meet is set for January 7-8. Aside from including some of the top names in local and international business, these two prestigious events are quite similar in terms of their program style and emphasis areas.

Elections and Investor Conference

It is reasonable to assume that the desire to sign memorandums of understanding (MoUs) will continue to be strong, as this is the primary metric by which the majority of Indian states evaluate their success in business meetings. At the same time, there will likely be a strong push to make more ambitious policy announcements, particularly this year. will surpass in strength. Tamil Nadu as well as Gujarat.

Whichever state is able to surpass the other in obtaining significant investment guarantees and receives a positive assessment of its capabilities from leading business figures at trade shows will get the support of the political parties in charge of these sectors of government. Will make one more point before to the discussion. Elections general.

Ultimately, state government-hosted business conferences have seldom been limited to discussions of economics. Politics has always been a crucial component of these gatherings; the state's governing party never forgets the political benefits that may result from a business summit that is well-run.

A corporate gathering's political component rises significantly during an election year when Lok Sabha elections are also scheduled. The way these summits operate is well known to the businessmen in attendance, so they are not at all shocked when the memorandums of understanding they sign with other governments turn into contentious political debates. Are taken aback.

Big Good and Politics

This time, the political stakes for the DMK-led Tamil Nadu would be greater since the state with the second-highest GDP in the nation will be eager to demonstrate that its leadership differs from that of the federal government. Is that there is no barrier to consistently drawing sizable investments from both local and foreign businesses.

In addition to this, Tamil Nadu would want to ideally convey to voters worldwide that a state does not always lose its industrial advantage and, with it, its capacity to provide a higher standard of living for its citizens. The same party is not in power in the center in this.

Interestingly, among the top three states in India in terms of GDP (Gujarat, Maharashtra, and Tamil Nadu) just one has a government led by a party other than the BJP. Tamil Nadu wants to grow its economy to $1 trillion, about three times its current size.

On the other hand, when considering the whole nation, Gujarat and Tamil Nadu are both able to draw significant amounts of investment, which will be among the nicest things that may happen to India. Both of these states have shown strong levels of investment in their respective industries, from building the nation's ecosystem for renewable energy, electric cars, and artificial intelligence to adding more and better-quality employment for India's rapidly expanding workforce. has been successful in fulfilling the commitments. The summit has the potential to significantly accelerate India's declared objective of ranking among the world's top three economies.