Global Investors Meet aims to attract investments worth Rs 1 lakh crore in TN

In an effort to build on the attractive growth prospects in Tamil Nadu and make the state, India’s most preferred investment destination, Tamil Nadu government organized the first Global Investors’ Meet on 9th and 10th September, 2015 in Chennai. Chief Minister J Jayalalithaa formally inaugurated the two day business summit on Wednesday. The event was focused on attracting investment in the sectors like automobiles, textiles, IT, heavy engineering, etc. Several industry leaders, senior politicians and foreign business delegates marked their presence in the event.

Inaugurating the summit, Jayalalithaa made a strong pitch for pushing the infrastructure sector. The CM showcased the state as a top investment destination and assured all assistance to the businesses from the government authorities.

"The Global Investors Meet (GIM) had targeted investment commitments of Rs 1 lakh crore, which has already been exceeded. I am very confident that further commitments would be made over these two days," Jayalalithaa said.

Talking about her various pro-industry initiatives, Jayalalithaa said that the state was leading in the areas of textiles, leather, IT, healthcare, automobiles and auto components, among others. Citing data, Jayalalithaa said the state was ahead on various industrial and investment parameters, including employment generation and attracting business.

Several industry leaders announced investment plans in the state. IT major HCL Ltd and ITC pledged investments of $1 billion and Rs 2,500 crore respectively, at the GIM. "We will be allocating a billion dollars in investments in the next five years in addition to the investments we have already made here in Tamil Nadu," said HCL Chairman Shiv Nadar.

The event was attended by several corporate veterans, including Industrialists Reliance Group chief Anil Ambani, Mahindra & Mahindra Chairman Anand Mahindra, ITC Chairman Y C Deveshwar, HCL founder Shiv Nadar, JSW Steel chief Sajjan Jindal, Adani Group chief Gautam Adani and Indian Oil Chairman B Ashok and Yes Bank Chairman Rana Kapoor.

Union minister of state for commerce and industry Nirmala Sitharaman, Minister of State for Road Transport, Highways and Shipping Pon Radhakrishnan, French Minister Paul Hermelin and Ambassadors of various countries also marked their presence in the event.

Ambassadors, high commissioners and delegations from countries like Australia, Canada, Japan, Korea, France, Italy, the UK, Singapore and Russia, too, are taking part in the two- day event.

According to reports, the government had allocated around Rs 150 crore for the Global Investors Meet. It had also organized 11 global and 13 national road shows ahead of the summit.

Key announcements at the summit

HCL allocates $1 billion for investments in South Tamil Nadu

Yamaha to set up third plant in Tamil Nadu - trial run on now

TVS Motor Company announces that it would expand its footprint in Hosur

TICEL Bio Park II to be set up

Adani Group to invest about Rs. 15000 cr. - Rs. 20000 cr. in ports and power sector in the next five years