Tamil Nadu stays on upswing, rakes in Rs 19,083 cr investment in 10 months

After Palaniswami took over as chief minister in February 2017, cumulative foreign direct investment (FDI) rose by Rs 46,427 crore from Rs 133 trillion (April 2000 to March 2017) to Rs 180 trillion

At a time when investors are taking a “wait and watch” approach on fresh investment, Tamil Nadu in the past 10 months has signed 63 MoUs, enabling investment worth Rs 19,083 crore.  For a state that has seen political uncertainty after the death of J Jayalalithaa three years ago, this could well be defined as the Chief Minister K Palaniswami-led government regaining that confidence.

“Industry was forced to look at different options (giving away money) to get things done in the past. But today, things are much better because bureaucrats are actively involved in decision making,” said a multinational firm,