Tamil Nadu to delay global investors meet by a year

No official reason given for postponement, sources say political scene may have prompted move

Tamil Nadu’s second global investors meet (GIM) is likely to be delayed by a year to 2018. 

In September 2015, during the conclusion of the first GIM organised by the All India Anna Dravida Munnetra Kazhagam (AIADMK) government, the then Chief Minister J Jayalalithaa had said the government would hold a GIM every two years.

However, addressing chief executives of various companies here, Tamil Nadu Chief Minister Edappadi K Palaniswami said the next GIM will be held in 2018.

The state claimed that during the first meet, 98 memoranda of understanding (MoUs) worth Rs 2.42 lakh crore were signed. Of these, 61 projects worth Rs 62,738 crore are in various stages of implementation. 

These projects will generate 76,777 jobs, Palaniswami said.

The state government is keeping a close watch on all projects and will take collaborative steps to ensure these come on stream fast, Palaniswami added.

The state government is giving priority to industrial policies, developing infrastructure, ease of doing business, and human resource development to boost industrial growth in the state.

Palaniswami said between May 2011 — when Jayalalithaa-led government took charge — and May 2017, the state had given 15,671 ‘consent to operate’ nods.

The chief minister added that the state attracted FDI of Rs 1,25,970 crore, up by 263 per cent, between May 2011 and December 2016.

Quoting CMIE numbers, Palaniswami claimed in the last six years investments decisions for Tamil Nadu were worth Rs 3,07,457 crore.