State constitutes committee to realise GIM investment commitments

CHENNAI: The state government has constituted a special committee helmed by the state industries minister to follow up on the MoUs signed and realise the investment commitments made by companies during the Global Investors Meet 2024.

According to a GO issued by V Arun Roy, secretary of the state industries department on February 16, the special committee chaired by the industries minister and co-chaired by the state chief secretary and comprising 15 state bureaucrats as its members would meet periodically to review and monitor the progress of the MoUs signed in GIM 2024.

"In the event of any issue that affect the progress of MoU Projects, the committee shall deliberate on such issues and make appropriate recommendations following which orders in circulation shall be directly obtained for such decision, if so warranted under the existing Business Rules, " the order stated.

The committee has also been empowered to issue such recommendations and advisories as deemed necessary to Heads of Departments/Boards/PSUs in order to provide clarity and facilitate expeditious resolution of issues in cases that do not require Government Orders.

The committee has been formally set up in accordance with the announcement made by Chief Minister MK Stalin at the valediction of the two-day GIM in January that a special committee would be formed to monitor and follow up on the MoUs and ensure that the commitments made during the conclave turn into actual investments in the state.

The state government signed a record 631 MoUs for investment commitments to the tune of Rs 6, 64,180 crore and capable of generating 26.90 lakh jobs in the state.

The investment promised cover a wide range of sectors, encompassing advanced electronic goods manufacturing, green energy, non-leather shoes, motor vehicles, electric vehicles, aerospace and defense, data centres, global capability centres and information technology. Investments have been attracted in both capital-intensive and employment-intensive sector, the GO read. The committee would have the heads of industries, finance, MSME, energy, handloom, Information technology, housing and urban development and chairman of TANGEDCO and Pollution control board and commissioner of land administration as its members.