CHENNAI: The Tamil Nadu government on Thursday approved industrial projects worth Rs 1,937.76 crore, expected to generate 13,409 jobs across sectors including electronics manufacturing, engineering design, technical textiles, renewable energy R&D, information technology, and food and agri-tech, Industries Minister TRB Rajaa said. The decision was taken during a cabinet meeting chaired by Chief Minister MK Stalin.
Notable approvals include projects by digital payment majors PayPal and American Express - both outcomes of initiatives during CM’s US visit last year. PayPal will set up a state-of-the-art advanced centre in Chennai focused on AI and machine learning, expected to create over 1,000 high-end jobs, the minister noted. During the US trip, 19 MoUs were signed proposing investments of about Rs 7,600 crore. “We don’t just sign MoUs; we ground investments and convert them into jobs for the state,” Rajaa said.
The cabinet also cleared fresh investments and expansions for other key projects, though details are yet to be available. Meanwhile, the CM met exporters from textiles, automobiles, gems, heavy engineering, and electronics sectors to discuss challenges amid shifting global trade dynamics. Stalin reaffirmed the commitment to providing a stable, competitive, and supportive environment for exporters.
“We discussed how Tamil Nadu will work closely with the union government to ensure our exporters are not disadvantaged by changing global trade policies,” Rajaa said. The government also plans to step up efforts in trade facilitation, logistics, and infra to help exporters remain competitive, he added.