CHENNAI: Industries Minister TRB Rajaa on Friday said Tamil Nadu is witnessing unprecedented industrial growth under the Dravidian model government, bringing pride not only to the state but also the whole country.
He was replying to a question raised by AIADMK MLA RB Udhayakumar in the Assembly during the debate on the motion thanking the governor’s address over foreign direct investment to the state.
‘48/69 pacts are in advanced stage of implementation’
Rajaa said, during Chief Minister MK Stalin’s foreign visits alone, the state had signed 69 memoranda of understanding (MoUs), of which 48 have reached advanced stages of implementation, including construction, foundation-laying and commencement of production.
“This translates into a 70% conversion rate of investments into actual projects, which is unmatched by any other government. We do not sign MoUs merely for publicity. Every agreement is backed by firm commitments and is aimed at generating employment,” Rajaa said.
He added that while globally a 40-50% conversion rate is considered good, achieving 70% reflects the government’s credibility and execution capabilities.
Rajaa said even major investors, including Lulu group, had reaffirmed their confidence in Tamil Nadu.
The minister acknowledged that certain projects have seen temporary slowdowns due to the impact of US tariff policies and global economic conditions.
“All parties in the House are aware of the present challenges posed by international trade uncertainties. Otherwise, our conversion rate would have been even higher,” he said.
Rajaa asserted that the state government remains committed to translating every investment commitment into tangible industrial growth and job creation in the state.