CHENNAI: The state government has set a target `5 lakh crore during the third edition of Global Investors Meet (GIM) scheduled to be held on January 7 and 8, 2024. This comes as the state is keen on generating high-value jobs and helping its transition into the knowledge economy during the third edition of GIM.
The Industries department alone is planning to woo Rs 3 lakh crore.
Tamil Nadu attracted investments worth Rs 3.004 lakh crore during the second edition of GIM held in 2019 by signing 12,664 memoranda of understanding, which include 12,360 MoUs from Micro, Small and Medium enterprises (MSMEs). During the first edition, the state managed to woo Rs 2.42 lakh crore investment.
The third edition of the investors meet is being held after a gap of four years. Initially, the third edition of the event was scheduled for 2021 but due to the Covid-19 pandemic, it had to be postponed. Sources said apart from the industries department, the state is targeting to woo Rs 75,000 crore in housing and urban development, Rs 1.20 lakh crore in energy sector and Rs 40,000 crore in MSME sector.
The MSME department, during the roadshows in Chennai, Kancheepuram and Chengalpattu districts alone, has wooed more than Rs 12,000 crore. “Similarly, in information technology and digital services, the state is planning to woo Rs 10,000 crore, and in handlooms, handicrafts, textiles and Khadi sector, the government is eyeing Rs 5,000 crore,” sources said.
The state is more keen on investment in research and development and also on investment in Global Capability Centres which could help generate high-value jobs. Though investment in these sector wouldn’t be that high, it will ensure the state has a highly skilled talent pool, sources added.
The focus is also on ‘India Centre for Advanced Manufacturing’ where in Guidance will act as the operational arm of the World Economic Forum’s Advanced Manufacturing Value Chain (AMVC) platform.
The Centre is likely to be operational by January 2024 in line with the GIM, former Industries Minister Thangam Thennarasu had announced in the state assembly earlier this year. Industries Minister TRB Rajaa held deliberations with business leaders in August where the focus was on technology adoption and innovation, industry-academia engagement, and sustainable production.