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Today Date : Wednesday, May 22, 2024

A strong foundation for foreign investment!

A strong foundation for foreign investment!

Tamil Nadu Chief Minister M.K.Stalin has the character of not only setting the target but also fully engaging himself in the activities to achieve that target.

When he assumed power, he set a target to raise the economy of Tamil Nadu to one trillion dollars by 2030. The current Gross Domestic Product (GDP) of Tamil Nadu is 354 billion dollars i.e. Rs. 28.3 lakh crores.
The growth rate was 14.6 percent in the last financial year. The growth rate should rise to 17 percent to 18 percent. Only then will the one trillion dollar economic goal be possible. For this, industrial investments should increase. Efforts are being made to encourage companies from abroad to start business in Tamil Nadu.

Since July 2021, MoUs have been signed for 226 projects so far. Companies have come forward to invest 2.95 lakh crores. This will provide employment to more than 4 lakh people. In March last year, Chief Minister M. K. Stalin toured the United Arab Emirates and signed MoUs to the tune of Rs 6,100 crore.
In this case, the Tamil Nadu government is going to hold an international investor conference in January 2024 to attract foreign investment. Requests are being made to many countries to participate in this investor conference and start business in Tamil Nadu.

The Chief Minister has decided to go directly to some countries and meet the businessmen there and request them to start business in Tamil Nadu. As part of this, he toured Singapore and Japan.
While MOUs between the companies for technology exchange were signed during the visit, the industry attracted more investment and will be revealed at the investor conference to be held in Chennai in January next year. It is a fact that when the companies from these two countries were investing in large numbers, it was the current visit of the Prime Minister that helped them.

A solid building is only possible if there is a strong foundation. In that way, the Chief Minister's visit is aimed at attracting more investments. You can definitely believe that investments will accumulate and employment opportunities will increase!