EV, smartphone, aerospace, semiconductor majors to announce big-ticket investment in TN’s GIM 2024 on Sunday

CHENNAI: Some of the big names in electric vehicle, smartphone, aerospace, and semiconductor majors to announce big-ticket investment in Tamil Nadu’s GIM 2024 on Sundayehicle (EV), smartphone, aerospace, textile, and semiconductor business will formalize the launch of their operations in Tamil Nadu at the inauguration of the third edition of the Global Investors Meet (GIM) hosted by the Tamil Nadu government here on Sunday.

A buoyant Tamil Nadu Chief Minister M K Stalin did not hold back his excitement as he 'announced' on social media a big ticket investment to be formalized during the GIM 2024, a day prior to the meet's inauguration.

"This is not just an investment. This will be a great accelerator in the industrial growth of south Tamil Nadu," Stalin said, thanking Vietnamese EV major VinFast for setting up its integrated EV car and battery manufacturing plant in Thoothukudi with an overall investment of US $ 2 billion.

Aviation major Boeing would also sign a MoU with the state government for investing Rs 300 crore at its Global Engineering Capability Centre (GECC) during the two-day meet.

A formal announcement on American Healthcare Tech firm MedExpert setting up its GCC in the city would also made public at the conclave.

Another big ticket announcement likely to dominate the agenda of the GIM2024 would be Tata's Rs 7,000 crore investment in its iPhone Assembly at Hosur in Krishnagiri.

A whopping five billion Singapore dollars worth of MoUs would also be signed by the Singapore delegation at the meet.

Footwear giant Adidas would also ink a deal with Tamil Nadu for establishing its R and D facility in the city.

The international meet, first of the incumbent government, would host as many as 450 delegates and 170 globally acclaimed speakers from 50 countries.

Exclusive pavilions for various sectors and even countries have been planned to enhance business collaborations.