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The Tamil Nadu government on Thursday said it has secured investment deals worth ₹24,307 crore during an investors’ meeting in Hosur, which, once realised, have the potential to generate 49,353 jobs across sectors like renewable energy, defence, footwear, and aerospace.
Major investment promises include a ₹5,000 crore solar cell manufacturing unit by Zetwerk, and a ₹850 crore defence electronics unit by DCX Systems Ltd, in partnership with Israel’s IAI-ELTA Systems.
As many as 92 investment memoranda of understanding (MoUs) were signed as part of the TN Rising investment meeting in Hosur. Chief Minister MK Stalin was present at the event.
“When we came to power four years ago, we set a goal of achieving a $1 trillion economy by 2030. Industrial growth is the best way to reach this target. Now, the Tamil Nadu growth story stands at 11.19 per cent economic growth, and is poised to grow further,” Stalin said.
The chief minister recently visited Germany and the United Kingdom where he signed 33 MoUs worth ₹15,516 crore, a proposed investment which has the potential of creating 17,613 jobs.
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Out of the total investments promised in Hosur meet, 53 MoUs worth ₹23,303 crore came under the industries department, while the remaining 39 MoUs, valued at around Rs 1,003 crore were in the domain of the MSME department.
Among the companies, Zetwerk will set up a ₹5,000 crore solar cell manufacturing facility, creating over 3,000 jobs. DCX Systems, along with IAI-ELTA Systems, will come up with a manufacturing facility in Krishnagiri with an investment of ₹850 crore.
Similarly, aerospace and defence major International Aerospace Manufacturing will set up its unit at ELCOT SEZ in Hosur for ₹200 crore. According to the state government, around 77 per cent of the MoUs signed since 2021 turned out to be a reality and are in various stages of implementation.
Industries Minister TRB Rajaa was also present during the investor meet.
Ascent Circuits Private (an Amber Group company) also signed a deal for an investment of ₹1,100 crore to launch the country’s largest and most advanced printed circuit board (PCB) manufacturing facility in Hosur.
This is the first PCB manufacturing project in India to be acknowledged under the central government’s Electronics Components Manufacturing Scheme (ECMS).
P Manjunath, managing director, Ascent Circuits, said, “The ₹1,100 crore investment represents Amber Group’s vision to develop an ecosystem of indigenous capabilities for India’s electronics industry. By delivering advanced multi-layer and HDI PCB capabilities at scale, we are enabling Amber to become a true full-stack PCB player, strengthening our EMS leadership and supporting the government’s Atmanirbhar Bharat vision.”
“The recognition under the ECMS further validates our commitment to build a globally competitive electronics industry in our country, which will power the next era of industrial and technological growth,” he said.
Aspire Footwear, a group company of Arvind Group, is also planning to set up a non-leather footwear manufacturing facility with an investment of ₹350 crore in Vellore.
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