EPS Criticizes CM Stalin for Shying Away from White Paper on FDILeader of the Opposition and former Chief Minister of Tamil Nadu, Edappadi K Palaniswami (EPS), has taken aim at Chief Minister MK Stalin, accusing him of avoiding the publication of a white paper on Foreign Direct Investments (FDI). Palaniswami claims that Stalin fears being exposed for failing to attract significant investments during his foreign trips.
EPS argued that Stalin’s 17-day trip to the USA resulted in securing only ₹7,618 crore in FDI, a modest sum when compared to the achievements of other South Indian leaders. In total, Stalin’s foreign visits, including trips to Dubai, Japan, Singapore, and Spain, have garnered investments worth ₹18,000 crore, according to EPS. He contrasted this with the more substantial investments attracted by Telangana’s CM Revanth Reddy, whose August 2023 foreign trip reportedly secured ₹31,500 crore, and Karnataka’s Industries Minister, who brought in ₹25,000 crore.
Palaniswami refuted Stalin’s earlier claims that only 10% of the Memoranda of Understanding (MoUs) signed during the previous AIADMK government materialized. He asserted that 72% of the MoUs signed during the Global Investors Meet (GIM) I and 27% during GIM II were realized, and highlighted that 41 projects were the direct result of MoUs signed during his foreign visits as Chief Minister.
Even during the COVID-19 pandemic in 2020, the AIADMK government managed to sign investment projects worth ₹24,458 crore, EPS added. He questioned why Stalin has not released a white paper on FDI, suggesting that it would reveal the current administration’s underperformance in securing substantial investments.
Palaniswami’s statements underline the ongoing political friction between the DMK and AIADMK over economic development and foreign investments, with both leaders striving to present their respective tenures as more successful in attracting investors to Tamil Nadu.