The Government of Tamil Nadu signed Memorandums of Understanding (MoU) worth Rs2,42,160 crore with various investors from India and abroad in the two-day Global Investors Meet which concluded at Chennai on Thursday.
This was announced by J Jayalalithaa, Chief Minister of Tamil Nadu, during the valedictory function of the event held here on Thursday evening.
Though the GIM had targeted Rs1 lakh crore worth of investment in various sectors, the delegates who participated in the event were impressed by the offers made by the Government of Tamil Nadu which led to the unprecedented success of the event. Thursday alone saw the State Government signing a record number of 98 MoUs.
“This will translate into more than 1,80,000 new jobs, making the GIM a win-win situation for all stakeholders,” said P Murari, veteran bureaucrat, who played a significant role in making the event a major success.
Murari, former secretary to the President of India, described the event as the dawn of a new era which will embrace the whole of India. “It is the result of a concatenated strategy drawn out by Jayalalithaa,” said Murari.
Jayalalithaa said the total investment of Rs2,42,160 crore realised in the GIM surpassed the cumulative investment made in Tamil Nadu during the two decades from 1991 to 2011. This is a befitting reply to the major Opposition parties which questioned the Government’s intentions in organising an event like this.
“Out of the total investment realised in the GIM, Rs1,0,4286 crore is in the manufacturing sector. More than 50 per cent of this is being invested in the southern districts which are economically as well as industrially backward,” said Jayalalithaa.
The Chief Minister also declared that Chennai has become the world’s largest car manufacturing hub with the signing of MoUs in the GIM. She described the GIM as a resounding success. “Hereafter we will be hosting GIMs once in every two years. The next GIM is scheduled for 2017,” said a confident looking Jayalalithaa. The election to the Tamil Nadu Assembly is round the corner and the Chief Minister sounded confident about the outcome of the electoral battle.
Summing up the two-day event, Murari, advisor to the FICCI, had told The Pioneer on Thursday morning itself that the GIM would be a major success. “The day is not far off when you will see aircraft rolling out of the aerospace park being planed in Chennai suburb. We have signed 14 MoUs worth Rs20,000 crore for the aerospace park,” said Murari before emplaning for Dubai for further discussions in continuation of the GIM.