CHENNAI: The state has moved 83 of the 112 investment memoranda of understanding (MoUs) signed since May 2026 to the land acquisition stage or beyond. The implementation progress is at 74.11% across a pipeline worth Rs 1,14,812 crore that could generate 1,32,771 jobs.
The progress was reviewed at the first meeting of the Tamil Nadu Investment Promotion Commission (TNIPC) chaired by Chief Secretary Dr M Saikumar on Friday, 10 days after its constitution. The meeting issued 10 directions to speed up project execution, streamline industrial approvals and address infrastructure bottlenecks.
The commission directed departments to adhere strictly to the mandatory 21-day approval deadline, introduce deemed approvals once it lapses, and initiate penal action against officials responsible for delays. It also asked the Tamil Nadu Power Distribution Corporation Limted to allow industries to execute their own high-tension and extra-high-tension power connections.
To support fresh investments, the commission earmarked an additional Rs 1,600 crore as package incentives for projects that have progressed through the MoU process. Subsidy disbursements stood at Rs 2,000 crore in the past six months, against an earlier annual average of about Rs 1,700 crore.
With merchandise exports targeted to rise from $59 billion to $72 billion, the commission called for district-level export conclaves and faster clearances for industrial units. The review forms part of TN’s ambition to become a $1.5 trillion economy by 2036.
Minister for Industries S Keerthana said transparency on commitments and accountability for delivery go hand in hand. “Our focus remains on ensuring that these investments translate into projects on the ground and meaningful employment opportunities,” she said in an online post in connection with Friday’s meeting.