CHENNAI: The State government is organising a two-day Global Investors Meet (GIM) on May 23 and 24, 2015 at the Chennai Trade Centre here, to showcase its competitive strengths, investment opportunities etc., to woo more investments from foreign countries.
A large number of Memoranda of Understanding (MoU) are expected to be signed during the meet.
During the GIM, the government proposes to highlight the following sectors: electronics and electronics hardware, textiles, agro and food processing, IT/ITES, biotechnology & pharmaceuticals, automobiles and auto components, chemicals & petrochemicals, engineering and heavy engineering, infrastructure including roads, minor port development, power, industrial parks and SEZs, urban infrastructure and renewable energy.
A world-class exhibition to showcase the State’s competitive strengths, investment opportunities, avenues of collaboration, investment facilitation mechanisms and financial support will be held during the event. Partner nations like Japan, USA, France, Germany, the UK and South Korea and other partner organisations will take part in the exhibition.
Before the main event in May, focused discussions with potential investors from the shortlisted sectors would be held to finalise their investment plans, so that a large number of MoUs could be signed on the day of the main event. JETRO (Japan External Trade Organisation), USIBC (US-India Business Council) and KOTRA (Korea Trade-Investment Promotion Agency), are some of the partner organisations for the event.
Further, the State government also proposes to sign agreements with major industry associations like CII, FICCI, ASSOCHAM and MCCI. PricewaterhouseCoopers (PwC) has been selected as a knowledge partner for this event and the Tamil Nadu Industrial Guidance & Export Promotion Bureau (Guidance Bureau) will function as the Secretariat for conducting the event.
An official release here said the proposed GIM-2015 would herald a new era of industrialisation and prove to be the harbinger of Tamil Nadu as the ‘Global Hub for Manufacturing’. This will make Tamil Nadu a new Growth model in India and enable the State to realise the objectives of the Vision 2023 of the Government of Tamil Nadu to catapult the State to numero uno position.
The release further said consistent business and market friendly policies and their sustained implementation had made Tamil Nadu the second largest State economy in India, with the largest number of factories and factory workers in the country. The industrial policies of 1992, 2003 and 2014 have triggered an automobile revolution in the State and the electronic industry revolution. Tamil Nadu is currently amongst the top three industrialised States in attracting FDI and recognised globally as a favoured investment destination with strong potential for manufacturing base.
Explaining the salient features of the Vision 2023, the release said the foremost goal of the document is to increase the share of manufacturing in the State’s economy to 22 per cent. It specifically aims at making TN the most favoured manufacturing investment destination in the country and one of the top three investment destinations in Asia.
A recent United Nations Report on Probity in Public Procurement has recognised Tamil Nadu as the first State to have a legislative framework to deal with Public Private Partnership procurement.
MoU on eco coopERATION with Japan
Chennai: A memorandum of understanding (MoU) has been signed by representatives of the Kanagawa Prefecture of Japan with the Government of Tamil Nadu for increased economic cooperation between the two large industrial regions. Announcing the MoU at an investment opportunities’ meeting organised by the Confederation of Indian Industry on Thursday, Minister for Industries P Thangamani said that the new MoU would see increased cooperation between Tamil Nadu and one of the most industrialised regions in Japan.