Tamil Nadu will offer red carpet welcome to investors: CM Stalin at San Francisco conclave

CHENNAI: Seeking to attract investors in the US to set up their business in his state, Tamil Nadu Chief Minister MK Stalin on Friday told industry captains in San Francisco Investors Conclave that his government was waiting to offer red carpet welcome to investors to establish their business in pioneering Tamil Nadu.

On the first day of his 17-day US business trip, CM Stalin showcased the investment potential and viable industrial climate in Tamil Nadu and said that the state was a leader in implementing stable growth target programmes and development centers have been set up across the state to ensure sustainable and widespread growth.

Emphasising that the state prioritises achieving growth through human resources and skill, CM Stalin told the investors that nearly 20% of the leading higher educational institutions of India were in Tamil Nadu.

Pointing out that the Gross Enrolment Ratio of the state was double the national average, the CM said that about 45% of the female labour force participation of the country was in Tamil Nadu, which is flourishing as the leader in health tourism in South Asia.

“I have come to invite you all to establish business in such a growth oriented state,” he added.

Chennai, gateway of South AsiaStating that trade ties between Tamil Nadu and the United States have always been strong, the CM said that over 300 American firms have set up shop in Tamil Nadu, mainly service centres, Global Capability Centres and manufacturing besides R & D.

Calling it an acknowledgement of Tamil Nadu’s industrial growth, the CM referred to the major American firms like HP, Pfizer, Applied Materials, Ford, Caterpillar, General Electricals, UPS and Cognizant operating in the state and said that more such firms must come to Tamil Nadu and set up their business.

Projecting Chennai as “Gateway of Asia,” the CM said that TN, which is one of the fastest growing economies in the world with over 39,000 factories and 2.6 million factory workers, has designed various policies like electronics, fintech, export promotion policy, R&D policy besides fast tracking and simplifying permission through single window system to help investors secure the permission online.

Welcoming investment in semiconductor, R&D and value added production sectors, Stalin showcased the success of the Global Investors Meet which attracted US $ 80 billion that create 1.4 million direct and 1.2 million indirect jobs, the CM said that his government has attracted 120.48 billion US $ investment and created 3.1 million jobs in the last three years.