CM Palaniswami attracts Rs 2,300 crore more US investment to Tamil Nadu

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CHENNAI: The state government on Thursday informed that Tamil Nadu has received Rs 2,300 crore more US investment during the ongoing visit of Chief Minister K Palaniswami to America, taking the total to over Rs 5,000 crore.

 

According to an official release, as many as 19 memoranda of understanding were signed at an Investors' Meet held at San Jose in the US on Wednesday.

On Tuesday, a total of 16 companies had committed investments to the tune of Rs 2,780 crore at a similar meet held in New York.

As per the report, the meet in San Jose saw the participation of over 250 investors, including officials of firms like Foxconn and Zoho Corporation, who have already invested in Tamil Nadu.

"In this investors' meet, a total of 19 MoUs were signed and Tamil Nadu has received Rs 2300 crore investment," over 6500 job opportunities will also be created to benefit the youth of the state”, it said.

“Palaniswami launched 'Digital Accelerator' scheme in participation with an American entrepreneurs association to fund new ventures by state-based entrepreneurs’, it added

As per the report, the state government will allocate Rs 50 crore for this purpose, wherein 10 per cent of the total investment will be provided as assistance.

During CM’s address at the investors' meet, Palaniswami highlighted the business-friendly atmosphere in Tamil Nadu and pointed out Tamil Nadu was a favourable destination for investments in the sectors of Fintech, Aerospace and Space.

The chief minister last week embarked on the three-nation tour to the UK, US and Dubai, saying the visit was aimed at garnering more foreign investments for Tamil Nadu.

Palaniswami embarked on a three-nation tour last week, saying the visit was aimed at garnering more foreign investments for Tamil Nadu.

Earlier, he had visited the UK and would stopover in Dubai en route to India, where he would meet potential investors.

He is scheduled to return home on September 10.

 

With inputs from PTI

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