The curtains came down on the two-day Global Investors Meet (GIM) in Tamil Nadu on Thursday evening, with about a hundred Memoranda of Understanding (MoUs) being signed between investors across the globe and the state government, to the tune of more than Rs 2.42 lakh crore.
With the participation of partner countries including the UK, Australia, Japan and the presence of more than 4,000 delegates from big companies across the country, the GIM summit has received an overwhelming response, not only in terms of investment but also in the term of appreciation over the ease of doing business.
“The total amount of investments that have been finalised during the GIM in Chennai is an unprecedented Rs 2,42,160 crore. This is more than double the investment of Rs 1 lakh crore targeted for this event,” CM J Jayalalithaa said. She also claimed that the GIM investments also exceeded the cumulative investment attracted through all MoUs signed by the Government of Tamil Nadu over the 20-year-period from 1991 to 2011. “Today, 98 MoUs have been signed and the documents exchanged,” she said.
According to her, of the total investment of Rs 2,42,160 crore, Rs 1,04,286 crore investment is proposed in the manufacturing sector; Rs 1,07,136 crore in the energy, sector; Rs 10,950 crore in the information technology sector; Rs 1,955 crore in the handlooms and textiles sector; Rs 800 crore in the agriculture sector; and Rs 500 crore in the fisheries sector.
Assuring investors that the necessary statutory clearances would be accorded within a period of 30 days, she said the government has nominated senior IAS officers of the state as facilitators for each of the projects and they will be responsible for liaising with the investor and all the relevant departments to ensure that all the clearances are granted within 30 days. She said that TN would host a GIM once every two years.