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Tamil Nadu CM to visit US for investments on Aug. 27
This visit comes on the heels of the recently inaugurated Tamil Nadu Investment Conclave 2024, on Aug. 21 where Stalin launched various industrial projects worth US$ 8.26 billion (INR 68,773 crore).
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Tamil Nadu Investment Conclave 2024 / Image- X (@mkstalin)
M.K. Stalin, Chief Minister of Tamil Nadu, is scheduled to visit the United States on Aug.27, with the goal of attracting more foreign investment into the state.
This visit comes on the heels of the recently inaugurated Tamil Nadu Investment Conclave 2024, on Aug. 21 where Stalin launched various industrial projects worth US$ 8.26 billion (INR 68,773 crore) and laid the foundation for numerous others.
The Chief Minister's U.S. visit is part of a broader strategy to position Tamil Nadu as a global investment hub and accelerate its economic growth. During his trip, Stalin is expected to visit several key cities, engage with industry leaders, and hold meetings with potential investors and entrepreneurs. The goal is to attract investments that will contribute to the state's ambition of becoming a trillion-dollar economy by 2030.
A day of raining investments, powering our state’s growth! Tamil Nadu stands tall as the hub for global investments under our #DravidianModel!
— M.K.Stalin (@mkstalin) August 21, 2024
At the #TamilNaduInvestmentConclave2024, I inaugurated 19 projects with investments of ₹17,616 crore and laid the foundation stone for… pic.twitter.com/Pza3aVi53o
Speaking at a recent DMK district secretaries’ meeting in Chennai, Stalin confirmed his plans, stating, "I will leave for the United States on Aug.27 to attract investments into Tamil Nadu. I will continue to manage party affairs and monitor the activities of party workers from there."
The visit is seen as a follow-up to the commitments made during the Global Investors Meet 2024 held in January, where Tamil Nadu secured investment pledges worth US$ 6.13 billion (INR 51,000 crore). These investments are now being realized, as demonstrated by the inauguration of 19 projects and the foundation laying of 28 additional projects during the conclave.
One of the standout investments announced at the Aug. 21 conclave was by Singapore-based Semcorp, which committed approximately US$C4.27 billion (INR 36,000 crore) to establish a green hydrogen facility in Tamil Nadu. This project, along with others, underscores the state's growing appeal as a destination for green energy and sustainable development.
Additionally, an MoU signed with Greenko Company to develop three closed-loop pump storage facilities is expected to bring in US$2.39 billion (Rs 20,114 crore) and create 1,500 jobs. These projects are poised to significantly enhance Tamil Nadu’s renewable energy capacity, aligning with the state’s long-term environmental goals.
During the conclave, Chief Minister Stalin highlighted Tamil Nadu’s progress over the past three years, noting that the state has attracted investments worth approximately US$117.5 billion (Rs 9.74 lakh crore), creating direct and indirect employment for over 3.1 million people. He attributed this success to Tamil Nadu’s stable law and order, skilled workforce, and investor-friendly policies.
Stalin’s U.S. visit is also expected to focus on attracting investments in emerging technologies, as reflected in the foundation stone laid for the TN ENGINE project. This initiative, a joint venture with Tata Technologies, aims to establish an advanced engineering facility at Anna University, Coimbatore, with an initial investment of US$20 million (Rs 166.88 crore).
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