Tamil Nadu expects 1 lakh crore investment from GIM

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Kolkata: Tamil Nadu government hoping to attract an investment worth Rs 1,00,000 crore from the Global Investor’s Meet (GIM), which has been rescheduled for September.

The meet was to be held on May 23 and 24 and now postponed to 9th and 10th September following requests from overseas investors, who sought more time to finalise the projects.

“We hope an investment of Rs 1,00,000 crore or (USD 16 billion) from this meet. We have good potential from both domestic and international companies,” Tamil Nadu additional chief secretary C V Sankar said at Kolkata recently a roadshow organized by Tamil Nadu Government . The Chairman of FICCI Gaurav Swarup, Tessolve semiconductor Pvt.Ltd Co-founder Dr. Veerappan and Indranil Dasgupta, the CEO SREI infrastructure Finance Ltd (Industrial Zone) were also present at the occasion.

Out of this, FDI would be of USD 5 billion, C V Shankar said. Several foreign countries were likely to be partners for the meet, but Japan was more enthusiastic about further investment in the state, he said.
Secondly, a 1,500 acre industrial park named One Hub was mostly used as Japanese investment destination, he said adding, manufacturing would remain the state’s focus area.

Shankar said that Tamil Nadu has enough land for investors with a land bank of 4,000 acres and several industrial parks were coming up across the state. Plus Tamil Nadu state has some benefits for the investors. Like The state contributes 25% of the national automobile output with a well established automobile industry ecosystem. TN accounts for 18% of the nation’s electronics output and 19% of the textile output. This state is also a leading exporter of IT/ITeS in India.

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