Make in TN gains momentum at Global Investors Meet

Chennai: The second edition of Global Investors Meet started in the city today with the objective of making companies from across the world to set up facilities in Tamilnadu.

In his address, Chief Minister Edappadi K Palaniswami said the State is a frontrunner in attracting more investments and excels in various departments including automobile, textiles, health and education.

He inaugurated the two-day event in the presence of Union Defence Minister Nirmala Sitharaman, Deputy Chief Minister O Panneerselvam, State Ministers, representatives of various countries and top business leaders.

Palaniswami said,”If the response we have received is any indication, GIM 2019 is not only a grand success, but will be remembered as a historic event in the annals of industrialisation of Tamilnadu.”

He further said in the past three decades, Tamilnadu’s economy has registered the strongest and sustained economic growth among all States. “It has become the second largest State economy in India, contributing 8.4 percent to India’s GDP,” he added. Palaniswami said the state attracts the third highest Foreign Direct Investment in the country.

Tamilnadu’s industrial base is diversified and holds the leading position in – textiles, leather, automobiles and auto components, heavy and light engineering, electronics manufacture, information technology and information technology enabled services, and health Care, he said.

Speaking about the investment the State is garnering in the aero sector, Palaniswami said, “35 companies from Tamilnadu have already signed Transfer of Technology agreements with DRDO, including MRF, which manufactures Aero-muscle Tyre indigenously developed for Sukhoi fighter jets of the Indian Air Force. LMW is establishing an aerospace and defence components manufacturing unit in Coimbatore. Many more such projects are on the anvil.”

Palaniswami concluded his speech saying that he hopes to make an announcement on the resounding success of the meet and the investments garnered during the valedictory function to be held tomorrow.

Earlier, Nirmala released the Defence and Aerospace Industrial Policy 2019 and said this is to ensure Tamilnadu’s success in the sector. She said Tamilnadu’s excellence in trade and industry has been built over centuries of dedicated efforts and enterprise.

“Tamilnadu was chosen to be the home of India’s first Defence Corridor to achieve Prime Minister Narendra Modi’s vision of self sufficiency in defence manufacture. Tamilnadu is an entrepreneurial State not just for years or decades but centuries,” she said and added that the Central government will provide all necessary support to the State government.

5,000 delegates register, GIM trends on Twitter

State Industries Minister M C Sampath said 5,000 delegates from India and abroad have registered for the second edition of GIM. He further said to make GIM-2019 a great success, efforts were started in early 2018. Meanwhile, #TNGIM2019 topped in Twitter trends today.

NT Bureau