KRISHNAGIRI: The Tamil Nadu government sustained its momentum towards the one-trillion dollar economy goal by signing 92 Memoranda of Understanding (MoUs) for a total commitment of Rs 24,307 crore, with the potential to generate 49,353 jobs, at the TN Rising Investment Conclave, in Hosur on Thursday.
Chief Minister MK Stalin also initiated the land acquisition process for Hosur International Airport at the event, which was the second such mega conclave organised after the first one in Thoothukudi in August.
Addressing the gathering, Stalin said his recent trip to London and Germany brought Rs 15,516 crore worth of investments to TN, and within three days, MoUs for Rs 24,307 crore investments have been signed in Hosur.
Startup summit to be held in Coimbatore on October 9 and 10
“This shows that we have surpassed our own record. We have set the goal to become a trillion-dollar economy by 2030. For this, the state economy should gallop with the support of industries. We are making infrastructure more industry-friendly to attract investments. TN has 11.19% of the nation’s GSDP.
Since assuming power in 2021, DMK government has converted 77% of MoUs into investments,” the CM said. “The Tamil Nadu Global Startup ummit, organised by Tamil Nadu Startup and Innovation Mission, to be held on October 9 and 10 in Coimbatore will bring together entrepreneurs and investors from across the globe,” Stalin said.
He added, “Hosur, which used to be called as a tiny industrial town, has been turned into the favoured destination for industries under the DMK government. Moreover, SIPCOT FORT incubation centres will pave the way for more transformation.
Apart from this, ‘Hosur Knowledge Corridor’ is planned to be set up along Bagalur Bypass, Outer Ring Road (ORR) and Satellite Town Ring Road (STRR). This will support Global Capacity Centres to develop Hosur in technology, education, industries and other sectors.”
The CM pointed out that the land acquisition process for Hosur Airport was initiated by TIDCO, and the 2,000-acre airport will take Hosur to the next phase of growth.
The CM laid the foundation for four projects worth Rs 1,210 crore, which will give employment opportunities for 8,000 people in footwear, automobile, and health sectors. MoUs were signed with 92 industries, including International Aerospace Manufacturing Private Limited ( joint venture of Rolls-Royce and Hindustan Aeronautics Ltd) at Rs 200 crore, which will provide job opportunities for 69 people and Zetwerk Electronics at Rs 5,000 crore, with the potential for 3,000 jobs.
The CM also inaugurated the SIPCOT future mobility park at Shoolagiri set up at Rs 210 crore. Land has been allotted to 22 industries at the facility spanning 300 acres and Rs 2,728 crore worth of investments have been assured.
Similarly, the CM took part in the groundbreaking ceremony for the expansion of Ascent Circuits at ELCOT in Hosur, which will bring Rs 1,100 crore worth of investments and 1,200 jobs. The company will manufacture circuit boards for various industries.
At a groundbreaking ceremony for the expansion of a manufacturing site in Delta Electronics, a power manufacturing company at Gurubarapalli SIPCOT near Krishnagiri, the CM said that TN is a pioneer in electronics export and production in the country.
“Delta Electronics supports the growth of Hosur. Likewise, it can be expanded to Central and South Tamil Nadu. The firm should start a research and development unit at Chennai and Coimbatore,” the CM added. Industries Minister TRB Rajaa, Food and Civil Supplies Minister R Sakkarapani, Krishnagiri Collector C Dinesh Kumar and officials from SIPCOT and TIDCO were also present.