55,000 crore MoU at World Investors Conference. To attract Tamil Nadu government and industrial companies, a conference for global investors will be held on January 7, 8,. 2024. For this purpose, talks are being held by the industry department with large industrial companies from the country and abroad to come and start the business.
A memorandum of understanding will be signed in January 2024, 7.8 to attract Tamil Nadu government companies. The agreement will be held on January 7 and 8, 2024 at the Kalaivanar Arena, Chennai.
In this agreement, the Government of Tamil Nadu will enter into an MoU with the world’s leading industrial companies. Through these agreements, new industries will be started in Tamil Nadu. Also, existing industries will expand their production.
In this agreement, the Tamil Nadu government is expected to encourage industrial companies to invest in the following sectors:
IT and allied sectors, manufacturing sector, tourism sector, agriculture and food sector,
Through this agreement, new jobs will be created in Tamil Nadu. Also, the economy of Tamil Nadu is expected to grow.
Ahead of this agreement, Tamil Nadu government has been taking various measures to attract industrial companies. This includes provision of land and buildings, tax concessions, skill training etc. to industrial establishments.
In order to attract investments from small and medium enterprises, district-wise investor meetings are being held by the Department of Small, Micro, and Medium Enterprises.
In the investors’ meeting held in the presence of the district ministers, MoUs are signed with the companies who want to invest in the small business sector.
Since its inception last month, investors’ meetings have been held in 29 districts so far.
Of these, 4,500 companies have signed agreements with district industrial centers to invest Rs 55,000 crore.
A maximum of 293 companies have signed an investment deal worth Rs 5,566 crore in Chennai.
Companies in Coimbatore and Tirupur have also signed an agreement to invest Rs 5000 crore each.
At the last World Investors Conference 2019, 12,000 small and medium enterprises signed MoUs worth Rs 32,205 crore. Out of them, up to 60 percent started businesses.