Home India News Tamil Nadu defers Global Investors Meet to September

Tamil Nadu defers Global Investors Meet to September

Chennai : The Tamil Nadu government has postponed its Global Investors Meet (GIM) by four months to September, the government said on Tuesday.

“Many foreign investors have represented that they would be in a position to commit much larger investment with some more time being made available to them to finalise such investment proposals,” a government communique here said.

“Further, a strong feedback has been received from many foreign investors that the event may be held after the summer season,” it added.

The government had earlier planned to hold the event in May and a budget provision of Rs.100 crore was made.

Road shows have been conducted in France, Britain, Japan, South Korea, Singapore, Malaysia and Germany. During the foreign road shows, there has been a considerable interest shown in investing in Tamil Nadu due to the prevalent industrial investment environment in the State, the communique said.

In addition, domestic roadshows have been conducted in Bengaluru, Hyderabad, New Delhi, Ahmedabad and Coimbatore.

Further road shows have been planned in China and Taiwan and within India at Pune, Mumbai, Kolkata, Salem, Madurai and Thoothukudi.

So far, investment worth Rs.53,000 crore in sectors other than energy and Rs.23,000 crore in the energy sector, totalling Rs.76,000 crore have been lined up for signing of Memorandums of Understanding (MoU).

As a large number of investors have already finalised their proposed investment in the state, necessary clearances will be accorded and government orders, including orders committing necessary facilitation, will now be issued to these investors so as to sign the MoUs during the event.

The GIM will now be held on September 9-10 this year at Chennai.