Three Major Projects Worth Rs. 2,568 Crore Launched at GIM in TN.

The firstever Global Investors Meet of Tamil Nadu government got underway in a grand manner on Wednesday with Chief Minister J Jayalalithaa announcing that the investment proposals had indeed exceeded Rs.One lakh crore target and expressed confidence that the much more commitments would be made at the end of the two-day meet.

On the occasion, the Chief Minister also inaugurated three major industrial projects with a total investment of Rs.2,568 crore – the new two wheeler unit of India Yamaha Motor Private Limited in Kancheepuram district with a capacity of producing 1.8 million two wheelers per annum and its nine vendor units with an investment of Rs.1,600 crore, the TICEL Bio Park – II at Taramani, built at a cost of Rs.168 crore and the expansion unit of, TVS Motor Company Limited at Hosur with an investment of Rs.800 crore.

Stating that domestic and foreign investors had enthusiastically endorsed the very favourable investment climate in the State, the Chief Minister said data with the Centre for Monitoring Indian Economy (CMIE) indicated that the total incremental investment proposed in Tamil Nadu during April 2011 to June 2015 was Rs.2,61,709.92 crore. From May 2011 to date the State government had facilitated 86 investments, with a cumulative investment of Rs.43,101.81 crore through MoUs and Single Window Facilitation.

Recalling that Prime Minister had spearheaded many recent initiatives to create a more investor friendly climate and encourage more Foreign Direct Investment, the Chief Minister requested the Union Minister of State for Commerce and Industry, Nirmala Sitharaman, who was present at the meet to kindly expedite any clearances that might be required at the Government of India level for investments proposed in this meet.

She also urged Union Minister of State for Road Transport Highways and Shipping, Pon. Radhakrishnan to provide full support to the various infrastructure projects under the Vision Tamil Nadu 2023.

Assuring the investors present at the meet, Jayalalithaa said that an investment in Tamil Nadu would be a very sound investment and an investment in the hard working, enterprising and reliable people of the State of Tamil Nadu. She also pointed out that the human resources of Tamil Nadu have been the key to the growth story of the State. These human resources have contributed significantly to the development of India as a country.

In addition to the focus on investment commitments the meet would foster future investments. There are 24 seminars, including eight Country seminars on a range of issues and sectors that would interest prospective investors. There are many exhibitions to showcase the ventures of the investors.

TNIE