Tamil Nadu signs Rs 2,120 crore MoUs to create 41,000 jobs

CHENNAI: The Government of Tamil Nadu signed 24 Memoranda of Understanding (MoUs) on Wednesday, September 22, with industries which are to bring an investment of Rs 2,120.54 crore to the state. This investment will create more than 40,000 jobs for the people of Tamil Nadu.

These MoUs were signed at the Tamil Nadu Exports Conclave which is organised as part of the ‘Trade and Commerce Week’ from September 20 to 26. The event was organised to commemorate the 75^th Independence Day and the MoUs were signed in the presence of Chief Minister of Tamil Nadu M K Stalin. The investments will be made in textiles, chemicals, IT (Information Technology), steel, leather, apparels and general manufacturing sectors.

CM Stalin also released the Tamil Nadu Exports Promotion Strategy and Micro, Small and Medium Enterprises (MSMEs) Exporters handbook. An exclusive park will also be created in the state and will be established on 240 acres at Voyalur near Ponneri in order to cater the needs of the polymer industry.

Thangam Thennarasu, Minister of Industries, Government of Tamil Nadu, said that the MoUs would help the state government in realising its target of becoming a $1-trillion economy by 2030. He added that the state needs to put more efforts on giving impetus to exports. Out of the total 24 MoUs, 14 were signed with 100 per cent export-oriented units, which account for a total investment of Rs 1,880.54 crore. Other MoUs were signed on behalf of the Department of MSMEs with a cumulative investment of Rs 240 crore.