In his US trip Tamil Nadu CM Stalin meets investors, signs MoUs

Tamil Nadu chief minister MK Stalin is currently in the US to attract investment amidst rising competition among the southern states for foreign investments. Tamil Nadu Government sources tell ET that the CM signed MoUs worth Rs 900 crore of investment commitments during the first two days of his trip.

The state is aiming to achieve an ambitious target of a $1 trillion economy by 2030 and for that it needs to get further investment in the state.

At present, there seems to be competition among the southern states over attracting foreign investment be it IT, Auto or chip manufacturing. State government sources say that Tamil Nadu is better placed compared to other states with its various dedicated industrial parks and supportive investment climate in the state. As per government reports it already has received investment proposals worth Rs 7,00,000 crore in the first six months of 2024 including companies like Google, VinFast, Tata Power, Foxconn among others.

More than 100 large companies have established their base in the state making it one of the most investor friendly among Indian states.

On his US trip, Stalin has been constantly updating his meetings and engagements during his US trip on social media.

“We have secured MoUs worth Rs 850 crores with Lincoln Electric, Vishay Precision, and Visteon, bringing us one step closer to realising our vision,” he posted on X on Friday. This was above the Rs 900 crore investment commitment received earlier.The Dravidian model of governance as the state government calls it tries to create a balance between growth and improvement of social parameters.As per the state government officials, the government through several welfare measures has managed to improve the social parameters right from health, education to ease of living.

Tamil Nadu has an infant mortality rate of 8.2 per 1,000 live births, significantly lower than the national average of 25.

In the education sector the state has a Gross Enrolment Ratio (GER) of 47 per cent in higher education, well above the national average of 28 per cent.

The state government has introduced ‘Pudhumaipen Thittam,’ a scheme which offers a monthly stipend of Rs. 1,000 for girls in government-run schools from grades 6 to 12 who pursue higher education. In August 2024, the scheme was extended to cover boys along with girls.

For higher education there is another scheme ‘Thiranari Thervu Thittam,’ which selects 1,000 students from government schools for guidance from leading institutions, along with a monthly stipend of Rs. 1,000.

Government sources say that these initiatives have led to an increase in the GER over the last few years.