AIADMK seeks white paper on foreign investment attracted by DMK government

Chennai: The AIADMK on Thursday demanded that the ruling DMK present a white paper on the foreign investment obtained since the last 32 months of its rule.

Also, the opposition party sought to know why no detailed statement on the measures initiated to make Tamil Nadu a one trillion dollar economy by 2030 was not furnished yet.

Referring to Chief Minister M K Stalin's overseas trips to the United Arab Emirates, Singapore, and Spain, AIADMK general secretary Edappadi K Palaniswami wondered in a statement here as to the size of the total investment committed by foreign firms since the last 32 months of DMK rule and how many of them materialised into projects.

"I have repeatedly insisted in the assembly and the media that the government should present a white paper on how many companies approached the government to start factories as per the memorandum of understanding signed with the state government," Palaniswami said in a statement here.

Listing out the steps taken by the previous AIADMK government since the tenure of former Chief Minister J Jayalalithaa in wooing global investors to the state, he said concerted efforts resulted in transforming Tamil Nadu into the second-largest economy in India. "That is, next to Maharashtra, Tamil Nadu contributed 8.47 per cent to the GDP and became the most industrialised state in India," the former Chief Minister said.

Also under his leadership, the government was able to attract many industrial investments even during the pandemic as he was easily accessible. A single window system was introduced, and a high-level committee under him ensured quick redressal of investor grievances, Palaniswami said in the statement.

But the panel formed under a Minister by the DMK government was "of no use" as the files had to be sent across several ministers before finally reaching the CM, he claimed.

Palaniswami questioned the rationale of Stalin embarking on a trip to Spain within a short span of 20 days from organising the Global Investors Meet here. "Stalin says his visit to Spain ensured the signing of the memorandum of understanding with three companies for a total commitment of Rs 3,440 crore to the state. He also said that there are opportunities for many companies to invest in Tamil Nadu in the future," Palaniswami said.

With two of the three companies that signed the pact with the Tamil Nadu government having their offices located in Chennai and Perundurai, respectively, what was the need for the Chief Minister to visit Spain, he asked and remarked that "a doubt has arisen among the people on whether the visit to Spain was to attract investment or to invest. The Chief Minister should explain."