Editorial: On a high

Chief Minister Edappadi K Palaniswami has said that Foreign Direct Investments (FDI) in Tamilnadu have increased to Rs 1.80 lakh crore in the past three years. He said that in the previous years the FDI was around 1.33 lakh crore.

However in the past three years an additional revenue of Rs 47,000 crore has been generated by this government. He added that due to the constant efforts of the government, many new investment projects are being commenced successfully in Tamilnadu.

Experts say that in within a year, there were 59 Global Investors Meet (GIM) Projects saw beginning of commercial production. Thay add over 200 projects are under various stages of implementation . Shot in the arm is IT sector, which is seeing a steady growth momentum in the State.

Many new projects like Phase II of Chennai Metro, widening of OMR Road with by-passes at Kelambakkam and Thiruporur and fly-overs at various key junctions at a total cost of Rs 1,150 crore are being taken up. The State government should continue to support investors.

Remember the Chief Minister recently went on a trip to UK, the US and the Emirates aimed at attracting investments to the State. Palaniswami has said a total of 41 Memoranda of Understanding (MoUs) were inked for investments to the tune of ₹8,830 crore, which could generate around 37,300 jobs.