India’s southern state of Tamil Nadu inaugurated its Global Investor Meet (GIM) and announced more than ₹55,000 crore of investments, with industrial conglomerates Reliance Industries Ltd (RIL) and JSW Energy leading the way in new energy investments.
RIL Chairman Mukesh Ambani, who spoke via video, said announced the company would invest in renewable energy and green hydrogen projects.
The two-day Global Investors’ Meet (GIM) kicked off at Chennai’s Trade Centre on Sunday, with the ruling DMK government in the state hosting the event.
With the event drawing participants from 30 nations, the state has ensured a robust infrastructure for Electric Vehicle (EV) manufacturing and microchip production, attracting significant attention.
On the first day of the GIM, the Tamil Nadu government attracted an overall investment of Rs 55,654 crore. Renowned companies like Hyundai, Qualcomm, Tata Electronics, among others, have inked Memorandums of Understanding (MoUs) with Tamil Nadu, committing to generating nearly 58,000 jobs.
Tamil Nadu Industries Minister TRB Rajaa emphasised the GIM’s focus on the knowledge economy, highlighting the state’s role in propelling India to a prominent position in the global economic landscape.
Union Minister Piyush Goyal, who participated in the event, said that the spirit of collaboration and cooperation while having an element of competition amongst the states will drive economic growth.
Chief Minister MK Stalin, while welcoming the global mega company heads, said that they have come to a land of historic significance. “We will provide importance for women empowerment and I have initiated a goal to achieve 1 trillion dollar economy for Tamil Nadu by 2030”, stated Chief Minister MK Stalin.