TN attracts ₹4L-cr investment in 4 yrs, generates over 50K new jobs

CHENNAI: In four years, Tamil Nadu has attracted new investment proposals of over Rs four lakh crore, helping the State generate over 50,000 new direct employment opportunities, said a study by the MSME Export Promotion Council (EPC) and the Confederation of Organic Food Producers & Marketing Agencies.

Releasing the study on ‘Investment: Growth & Development in Tamil Nadu’ here Wednesday, MSME EPC chairman Dr DS Rawat said the State initiatives to boost investment have successfully attracted domestic and foreign domestic investors, with significant projects in the manufacturing sector.

The study attributed the continuous flow of investments, both domestic and foreign, due to State’s advanced infrastructure, mature industrial ecosystem, and logistics capabilities.

The study found that several micro and ancillaries are coming up, including in rural areas.

Reportedly, there are over 50 lakh MSMEs, third behind Uttar Pradesh and West Bengal.

The IT & software industry has opened up tremendous opportunities with a strong industrial base, infrastructure, world-class connectivity and trained human resources.