At the Tamil Nadu Global Investors Meet, TVS Group, JSW Energy, and Tata Electronics reveal significant investments

At the Tamil Nadu Global Investors Meet, TVS Group, JSW Energy, and Tata Electronics reveal significant investments

At the Tamil Nadu Global Investors Meet, TVS Group, JSW Energy, and Tata Electronics reveal significant investments

Several corporations' investments in Tamil Nadu will result in thousands of new job possibilities for the state.

At the third edition of the two-day Global Investors Meet (GIM) in Chennai, investments are pouring in for Tamil Nadu.

In an effort to recover its position as the top investment destination in India, the state has received millions of billions of rupees from companies such as TVS Group, JSW Energy, and Tata Electronics. However, the state is facing fierce competition from states like Gujarat, Karnataka, and Maharashtra. Desires. In Telangana.

With an anticipated 40,500 jobs, Tata Electronics plans to spend Rs 12,082 crore for an enclosure manufacturing and mobile phone assembly facility in Tamil Nadu's Krishnagiri district.

With the goal of creating 8,000 employment, Pegatron, an Apple supplier, would spend Rs 1,000 crore to build a computer, communications, and consumer electronics manufacturing facility in Tamil Nadu.

In order to increase its current presence in the districts of Thoothukudi and Tirunelveli, JSW Energy would spend Rs 10,000 crore, creating 6,600 jobs.

In the Kanchipuram district, Hyundai plans to establish an EV battery production plant, an ICE passenger vehicle manufacturing unit, and a Hydrogen Innovation Valley in collaboration with IIT Madras, all at a cost of Rs 6,180 crore.

TVS Group plans to spend Rs 5,000 crore in IT, real estate, and cars.

Tamil Nadu will host global competence centers and transportation and logistics solutions, according to AP Moller Maersk, a Danish shipping and logistics corporation.

At the summit, which is scheduled for January 7-8, Qualcomm's new design center—which will employ 1,600 people—was officially opened by Tamil Nadu Chief Minister MK Stalin. The facility was established with an investment of Rs 177.27 crore.

This edition, which hopes to draw in investments of Rs 5 lakh crore, would be the first GIM under the administration of CM Stalin and the DMK. The Chief Minister will also present the roadmap his administration has devised to grow Tamil Nadu's GDP to $1 trillion by 2030. Tamil Nadu's gross state product is projected to reach $354 billion in 2023–2024.

Prior to GIM, CM Stalin organized investment road shows in the UAE, Singapore, and Japan. He traveled to Osaka, Japan, to see a century-old Komatsu Company facility.

Approximately fifty nations, including Japan, Australia, the United Kingdom, Germany, the United States, Singapore, France, Denmark, South Korea, and Taiwan, will participate in GIM. Chris Miller, the best-selling author of "Chip Wars," Somnath S, the chairman of ISRO, Anand Mahindra, the chairman of the Mahindra Group, Bhavish Aggarwal, the founder and president of Ola, Raghuram Rajan, the former governor of the RBI, Arvind Subramaniam, the former head economic advisor, and other notable figures are among the attendees.