At the San Francisco Investment Conclave, the Tamil Nadu CM highlighted the state’s economic achievements, including its status as India’s second-largest economic state
Our Bureau
Chicago, Il
On September 4, 2024, in Chicago, a MoU was signed with Trilliant Networks for an investment of Rs. 2000 crore to set up a Development & Global Support Centre and a production facility in Tamil Nadu. Additionally, Chief Minister Thiru. M.K. Stalin met with senior officials from Nike, a leading global manufacturer of sports footwear and apparel, and Optum, a leading healthcare company, inviting them to explore new business investments in Tamil Nadu.
Tamil Nadu is emerging as a highly conducive state for starting businesses in India due to its skilled young workforce, women’s education and development, achievements in higher education, and quality infrastructure. Chief Minister Thiru. M.K. Stalin is undertaking an official visit to the USA to attract more companies and investments to Tamil Nadu.
During this visit, the Chief Minister met with representatives from major global companies, including Nokia, PayPal, Yield Engineering Systems, Microchip Technology, Infinx Healthcare, and Applied Materials in San Francisco.
MoUs were signed with these companies for an investment of Rs. 900 crores, creating 4,100 job opportunities. Also, he met with senior officials from Apple, Google, and Microsoft, inviting them to invest in Tamil Nadu, and signed an understanding agreement with Google for setting up AI research labs in Tamil Nadu in collaboration with Naan Mudhalvan Scheme, and with Ohmium for establishing a new factory in Kancheepuram district with an investment of Rs. 400 crores, providing 500 job opportunities.
On September 3, 2024, in Chicago, MoUs were signed with Eaton for an investment of Rs. 200 crores to expand its production facility in Chennai and establish a research and development and global application engineering center. An understanding agreement was also signed with Assurant for setting up a global capability center (GCC) in Chennai. In total, MoUs were signed with 10 companies.
Following this, on September 4, 2024, in Chicago, an understanding agreement was signed with Trilliant Networks, and the Chief Minister invited senior officials from Nike and Optum to consider new business investments in Tamil Nadu. The details are as follows:
The Tamil Nadu government has signed an MoU with Google to set up Artificial intelligence labs at Guidance, the state government’s investment promotion agency, to skill 2 million youngsters in AI, said Industries Minister T.R.B. Rajaa.
The MoU was signed during Tamil Nadu Chief Minister MK Stalin’s visit to Google’s headquarters here. The Chief Minister is currently on an official visit to the United States, aiming to secure support and attract investments to boost the state’s economic development.
Tamil Nadu Minister TRB Rajaa said that with Stalin’s US visit, Tamil Nadu is racing into a new era of tech. “With this partnership, we aim to skill 2 MILLION youngsters in AI via Naan Mudhalvan, collaborate with startups, and enable MSMEs and the rural economy. We want our youth to be a future-ready workforce,” he added.
Stalin has also visited the offices of Apple and Microsoft in San Francisco and discussed “various opportunities and exciting partnerships” with these tech companies.
“An awe-inspiring visit to the offices of Apple, Google and Microsoft. Discussed various opportunities and exciting partnerships. Determined to strengthen these partnerships and make Tamil Nadu one of the foremost growth engines of Asia!” CM Stalin posted on X on Saturday.
Rajaa said that under the leadership of Stalin Tamil Nadu is powering forward with global partnerships that will drive the state towards becoming a trillion-dollar economy.
The Tamil Nadu government has signed a Memoranda of Understanding (MoUs) with several investors, including Nokia, PayPal, Microchip, and Yield Engineering Systems, during CM MK Stalin’s visit to the United States.
These agreements were signed by Guidance Tamil Nadu, the state government’s investment promotion agency, in the presence of Chief Minister MK Stalin and Industries Minister TRB Rajaa.
Earlier, speaking at the San Francisco Investment Conclave, the Tamil Nadu CM highlighted the state’s economic achievements, including its status as India’s second-largest economic state, its high rate of urbanization, and notable accomplishments in education.
As per the agreements, Nokia will establish a new Research and Development Centre in Tamil Nadu at a cost of Rs 450 crore, generating 100 jobs, while PayPal will set up an Advanced Development Centre in Chennai, creating 1,000 jobs.
Microchip will establish a new Research and Development Centre for semiconductor technology in Semmancherry, Chennai, at a cost of Rs 250 crore, generating 1,500 jobs. Yield Engineering Systems will set up a product development and manufacturing facility for semiconductor equipment in Sulur, Coimbatore, at a cost of Rs 150 crore, generating 300 jobs.
