Stalin leaves for U.S. to attract investments

Tamil Nadu CM M.K. Stalin embarks on US visit to attract investments, with focus on San Francisco and Chicago.

Tamil Nadu Chief Minister M.K. Stalin left for the U.S. on Tuesday evening on a two-week official visit. During his trip, he is scheduled to visit San Francisco and Chicago, as part of his mission to get investment proposals for TN.

Speaking to reporters in Chennai airport before boarding his flight, Mr. Stalin said investors have been eager to meet him during his U.S. visit so much so that it appeared to him as if the number of days for his U.S. visit might not be sufficient.

Since assuming office in May 2021, Mr. Stalin had visited the United Arab Emirates, Singapore, Japan and Spain to get investment proposals into Tamil Nadu. He said on his return, he would list out the proposals received during his U.S. trip.

To a query over a demand for a White Paper on investment proposals received by Tamil Nadu, the CM said it has not been the tradition and that investors would not want that, since there was competition between States to get their investments. “We would release once we get the investments”.

Due to his earlier visits to UAE, Singapore, Japan and Spain, investment proposals to the tune of ₹10,882 crore through 17 MoUs were received that could generate employmeent to over 18,500 people, he said. Of them, five projects to the tune of ₹990 crore have started production, he said.

During the Tamil Nadu Investment Conclave held on August 21, Mr. Stalin said he inaugurated two of these five projects -- one by a Singapore company and another by a Japanese company. Construction work towards three other projects to the tune of ₹3,796 crore that could generate employmeent over over 1,500 people were in various stages of progress, he said.

Two expansion projects to the tune of ₹438 crore were about to commence operations, he said. As for four projects to the tune of ₹2,100 crore, there has been a “minor delay” due to the scenarios experienced by the respective companies, Mr. Stalin contended but did not name them.