Page 51 - Tamil Nadu

MNCs chose TN for its good leadership, bureaucracy: TVS Motor's Srinivasan

Several multinational companies chose Tamil Nadu to set up their base because of the good political leadership the state offers and an excellent bureaucracy, Venu Srinivasan, the Chairman Emeritus of two and three wheeler major TVS Motor Company said on Sunday. Delivering his address at the inaugural Global Investors Meet 2024 organised by the Tamil Nadu government, he said the vision of Chief Minister M K Stalin to make the state a USD 1 trillion economy by 2030 would be definitely achieved.' GIM 2024 is another important landmark in the series of GIMS that we have been having. We are one of the best performing states in the country and I am very proud to say this as a Tamizhan, he said. Today's GIM is third edition of the event by a state government while past Global Investors Meets were conducted by the then AIADMK government in 2015 and 2019, respectively. Our Chief Minister has an ambitious goal to make Tamil Nadu a trillion dollar economy. I am sure with his leadership, and h

World wants to engage with India on FTAs: Union minister Piyush Goyal

Union Minister Piyush Goyal on Sunday said the world today wants to engage with India for free trade agreements (FTA), and to expand trade and diplomatic relations with India. Speaking at the inaugural of the maiden Global Investors Meet of the DMK government, the Commerce and Textiles Minister said India's young population has given demographic dividend which has become the envy of the world. Batting for women joining the formal workforce in the country, he said, when women go to work, it will not only add to the GDP but will also add twice to the country's GDP as the work they are now doing will be replaced by technology. Elaborating, he said, ... as more and more women come into formal workforce, the work what they are now doing, which is unfortunately not reflecting in our GDP will be replaced by technology as India will become the largest market for washing machines, dishwashers.. India will become the largest market for goods and services, he said. Underscoring that women led

JSW Group to double investments in Tamil Nadu: Chairman Sajjan Jindal

Noted industrialist and Chairman of the diversified conglomerate JSW Group Sajjan Jindal on Sunday said his company is planning to double the investments made in Tamil Nadu across sectors over the next few years. Jindal, who is here to take part in the Global Investors' Meet organised by the Government of Tamil Nadu said JSW as a group has invested Rs 15,000 crore in the state till date. JSW Group has a presence in Tamil Nadu with its JSW Steel and JSW Energy businesses. Heaping praise on the ruling DMK government, Jindal said Tamil Nadu has been a pioneer in the development of industries and continues to provide the right ecosystem that nurtures entrepreneurship with innovation at its core. Tamil Nadu's growth across sectors, especially automobile, auto-components, fertilisers, sugar, textiles and Information Technology has helped position India as a frontrunner on the global map, he said. Jindal also remarked that the state has the highest number of factories manufacturing ...

Tata Electronics to sign deal worth over Rs 12,000 cr with TN govt: Report

Reports suggest that Tata Electronics is gearing up to invest Rs 7,000 crore in the expansion of its Hosur plant, spread over a six-year timeline

Qualcomm expands presence in Chennai with proposed investment of Rs 177 cr

Chip designer Qualcomm on Sunday announced an expansion in Chennai with a new design centre that entails a proposed investment of Rs 177.27 crore and job creation for up to 1,600 skilled professionals. The new centre will specialise in wireless connectivity solutions, with a focus on innovations that complement Wi-Fi technologies. It will also actively contribute to Qualcomm's global Research and Development endeavours in 5G cellular technology, affirming the company's commitment to be at the forefront of the wireless communications industry, according to a release. The new design centre is expected to generate jobs for up to 1,600 skilled professionals, contributing to the growth and development of Chennai's vibrant workforce, it said. "At the Tamil Nadu Global Investors Meet in Chennai today, Qualcomm Incorporated announced a significant expansion in Chennai with a new facility for their Design Centre, representing a proposed investment of Rs 177.27 crore," the release said. Savi

Singapore firms to invest Rs 31,000 cr in Tamil Nadu during investors meet

Global investors meet 2024 to see significant investment from Singapore in Tamil Nadu's sustainability and infrastructure development

France sets up an exclusive Country Pavilion at TNGIM 2024 to boost ties

France has set up an exclusive country pavilion at the third edition of the Tamil Nadu Global Investors Meet, a two-day event from January 7, which is aimed at fostering economic ties with India, an official release on Saturday said. The Consulate of France in Puducherry and Chennai and the Indo-French Chamber of Commerce and Industry announced that France is one of the country partners for the event and has set up an exclusive France Country Pavilion at the Tamil Nadu Global Investors Meet 2024. "This significant initiative aims to foster economic ties between India and France while showcasing the prowess of French companies in Tamil Nadu, a region with long-standing historic, cultural, and business significance," an official release said. France has partnered with the Tamil Nadu government since the maiden GIM in 2015 which was held under the late Chief Minister J Jayalalithaa and again in the second edition in 2019 when 'Edappadi' K Palaniswami of the AIADMK was the chief ...

VinFast to come up with $2 bn integrated EV facility in Tamil Nadu

The unit in Thoothukudi to have an annual capacity of 150,000 units

Tamil Nadu govt's 3rd Global Investors Meet set to begin on January 7

Tamil Nadu is all set to host the third edition of the Global Investors Meet, and the first one by the ruling DMK government, from Sunday with a galaxy of leaders set to participate in it. A host of representatives from several multinational companies, over 450 international delegates, and representatives from 50 countries are expected to attend the two-day event. The previous editions of the Global Investors Meet (GIM) were held in 2015 and 2019, when AIADMK was the ruling party, under the chief ministers late J Jayalalithaa and Edappadi K Palaniswami, respectively. The Ministry of Industries and Guidance Tamil Nadu--the state's investment promotion agency--, who are the organisers of the event, expect over 30,000 participants during GIM 2024 with Union Commerce Minister Piyush Goyal set to be part of the inauguration along with Chief Minister M K Stalin and his cabinet colleagues. "As the Tamil Nadu Global Investors Meet 2024 approaches, the air is thick with anticipation! With o

VinFast to set up its first EV manufacturing unit worth $500 mn in India

Construction on the project's EV and battery manufacturing plants is expected to start this year and generate 3,000 to 3,500 jobs locally, the statement said

Centre has done little to ease TN's financial burden: FM Thangam Thennarasu

The Central government has done precious little to ease Tamil Nadu's financial burden, the state Finance Minister Thangam Thennarasu claimed on Friday and accused it of following different yardsticks in devolving funds to states. For every single rupee given to the Centre, the state got back only 29 paise but the ratio was different in the BJP-ruled states, he said. "As I have already mentioned in the Assembly, for every rupee we give to the Centre, we get back just 29 paise. But in BJP-ruled states, this ratio is completely different," Thennarasu told reporters here in response to the Union Finance Minister Nirmala Sitharaman's assertion on Thursday that the Centre released more funds to Tamil Nadu without any discrimination. For instance, from the financial year 2014-15 to 2022-23, the Centre gave Rs 4.75 lakh crore to Tamil Nadu including the Central tax share of Rs 2.46 lakh crore and subsidy of Rs 2.28 lakh crore. At the same time, the direct tax collections accounted to Rs 6.2

Tamil Nadu to come up with semiconductor policy during investors meet

The government is expecting a record investment during the investors' meeting

PM gave assurance to release relief funds for TN, says Udhayanidhi Stalin

"The Prime Minister has said that he will definitely fulfil it," he added

French major Valeo lines up expansion in Tamil Nadu, plans to hire 3,000

Valeo is committed to manufacturing excellence, setting benchmarks for quality, reliability, and technological advancement within the automotive sector

Centre not hostile to TN on funds flow, even made advance payment: FM

The Centre was never hostile towards Tamil Nadu, Kerala or any other state on ensuring funds flow and had made advance payments and even released funds to foster infrastructure development, Union Finance Minister Nirmala Sitharaman said on Thursday. Responding to a criticism from the DMK government that the central government was not disbursing funds or settling its share, she said from 2014 to 2023 the Centre received Rs 6.23 lakh crore as direct tax (income tax and corporate tax) from Tamil Nadu but gave back Rs 6.96 lakh crore to the state during the same period. "I will get the update on the current figures only in March. But as per the available statistics, from 2014 till 2022-23, Tamil Nadu's direct tax collection was Rs 6.23 lakh crore. But we gave Rs 6.96 lakh crore to the state," she said while speaking at the Viksit Bharat Sankalp Yatra programme here. "It is a wrong assumption that this Rs 6.23 lakh crore is paid only by the people of Tamil Nadu. Among them were ...

Court extends Senthil Balaji's remand till Jan 11 in money laundering case

A sessions court here on Thursday extended Tamil Nadu Minister V Senthil Balaji's remand till January 11. The DMK leader, arrested by the Enforcement Directorate on June 14, 2023 in a money laundering case, is presently lodged at the Puzhal prison here. Principal Sessions Judge S Alli, before whom Balaji was produced by the prosecution through video-conferencing from the prison, extended his judicial custody. Balaji was arrested by the ED in connection with a money laundering case linked to a cash-for-jobs scam when he was the Transport Minister during an earlier AIADMK regime. Soon after his arrest, he underwent a bypass surgery at a private hospital. Later, the ED took him into custody for interrogation and following that he was remanded in judicial custody. His remand was periodically extended by the court.

Tamil Nadu ropes in business tycoons to promote its industrial success

Through twin campaigns, the state showcases its robust biz climate

Vietnam's EV maker VinFast plans to set up battery plant in Tamil Nadu

The company will make batteries for EVs at the plant in the city of Thoothukudi, one of the sources said

PM Modi inaugurates projects worth over Rs 20,000 cr in Tamil Nadu

Railway connectivity, roads, oil and gas, shipping works will create employment for thousands, he says

LIVE: 'Govt, transporters agreed workers will resume work immediately'

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