Global Investors Meet off to a glittering start

The Global Investors Meet (GIM) has gotten off to a glittering start in Tamil Nadu with nine countries including UK, Australia, Japan joining as partner nations for the summit.

In addition to the business teams from 15 nations, more than 4,000 delegates from some of India’s major companies took part in the two-day event.

Drawing focus to the investment commitments, the GIM is expected to foster future investments in the State to the tune of more than Rs 1 lakh crore.

The event, being held at the Chennai Trade Centre, will also see the signing of more than 100 Memoranda of Understanding (MoUs) between the Tamil Nadu Government and various multinational companies, which have evinced interest in investing in the State.

More than 20 seminars, including eight countries’ special meets, have also been organised on a range of issues that would interest prospective investors to help them understand the State better.

High-tech exhibitions were also set up at the trade centre where businessmen showcased their ventures.  Most of the roads in Chennai were decked up with posters and banners to welcome delegates from across the world. With a land bank of 42,000 acres available for industries, Tamil Nadu Chief Minister J Jayalalithaa ordered that for investment commitments made in the State, all necessary final clearances shall be accorded within 30 days. 

She also hoped that the meet will see investments in excess of Rs 1 lakh crore.
During the meet, Tamil Nadu would be offering single window clearance for investors besides giving capital subsidy (up to $3,75,000) and electricity tax exemption up to five years, Stamp duty concession up to 50 per cent on lease or sale of land, 100 per cent for big projects, environmental protection, and infrastructure subsidy up to $50,000.

Industries Department said that if companies are willing to establish their base in southern districts like Madurai, Theni, Dindigul, Sivaganga, Ramanathapuram, Virudhunagar, Tirunelveli, Tuticorin and Kanniyakumari, they would be eligible for a special package, higher than the package available for the rest of the State.

The focus sectors of this event were Aerospace, Agro and Food Processing, Automobile and Auto Components, Electronic Hardware, Heavy Engineering, Infrastructure, IT and ITeS, Renewable Energy, Skill Development, Textiles and Apparels, Pharmaceutical and Biotechnology, Chemicals, Petrochemicals and Minerals.

For the delight of corporate representatives and common public, artistes from Trichy, Thanjavur, Madurai and several other parts of Tamil Nadu are giving traditional cultural programmes during the meet.


In focus

Over 20 seminars held, eight countries’ special meets also organised
Delegations from 15 nations present alongside 4,000 delegates from India
100 MoUs between Tamil Nadu govt and various MNcs signed
Aerospace, automobile and auto components, heavy engineeering, skill development sectors gain focus