Bring it on

The second Global Investors Meet (GIM), organised by the Tamilnadu government, is all set to commence next week. This provides an opportunity to get investment by various companies from across the globe for the State. Sources say that the government has already cleared more than Rs 50,000 crore worth of investment proposals in the State in the last two months. It had also approved proposals of 30 firms that sought to invest Rs 49,000 crore in the State.

The happy sign is that the Global Investors Meet is expected to focus more on micro, small and medium enterprises (MSMEs). Chief Minister Edappadi K Palaniswami has announced that the State government is in the process of creating a separate entity to improve the global competitiveness of MSMEs in the State and attract foreign investments to the sector.

The government is concentrating on auto and auto component industry to attract major investments in the sector. Chennai has emerged as the largest contributor to the automobile sector in the country in terms of industrial output and is one among the top 10 global auto hubs with an annual installed capacity of 1.46 million units for passenger cars. GIM is expected to propel growth in Tamilnadu.

NT Bureau