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

The MoUs were signed, in the presence of Chief Minister M.K. Stalin, at the Tamil Nadu Exports Conclave.

As many as 24 memoranda of understanding were signed on Wednesday between the Tamil Nadu government and industries that will bring in ₹2,120.54 crore in investments and create jobs for over 41,000 people.

The MoUs were signed, in the presence of Chief Minister M.K. Stalin, at the Tamil Nadu Exports Conclave organised here as part of ‘Trade and Commerce Week’ from September 20-26 celebrated nationwide to commemorate the 75th Independence Day.

These investments are made in textiles, chemicals, IT/ITES, steel, leather, apparels and general manufacturing. The units are likely to come up in Chennai, Kancheepuram, Tirupattur, Krishnagiri, Madurai, Salem, Tiruchi, Thanjavur, Thoothukudi, Dindigul and Tirunelveli districts.

Mr. Stalin released the Tamil Nadu Exports Promotion Strategy and the MSME Exporters Handbook. He also handed over the first two allotment orders to companies that have proposed to open units at a polymer park in the State. An exclusive park to cater to the needs of the polymer industry has been established on 240 acres at Voyalur near Ponneri.

Speaking to The Hindu after the event, Industries Minister Thangam Thennarasu said, “The MoUs would help us realise our target to become a $1-trillion economy by 2030. Even during the pandemic, the export-oriented units operated. But we need to give an impetus to exports…”

The investments are aimed at equitable growth as they are not concentrated in one area. No strategy was in place earlier to boost exports, he said.

The MSME Trade and Investment Promotion Bureau (M-TIPB) has entered into an MoU with Flipkart for promotion of e-commerce among MSMEs through a supplier development programme. “It will equip the MSMEs to scale up their business and make them become part of domestic and global supply chains,” an official release said.

The Indo-German Chamber of Commerce and M-TIPB entered into an MoU for collaboration between the MSMEs in Tamil Nadu and German businesses. The MoU will facilitate linkages, interaction, technology collaboration and export opportunities for the MSMEs.

Of the 24 MoUs, 14 were signed with the 100% export-oriented units, accounting for a cumulative investment of ₹1,880.54 crore, and the rest were signed on behalf of the Department of Micro, Small and Medium Enterprises, with a cumulative investment of ₹240 crore, the release said. They are expected to create jobs for 39,150 persons and 2,545 individuals respectively.

Minister for Rural Industries T. M. Anbarasan; Chief Secretary V. Irai Anbu; Additional Secretary in the Union Ministry of Commerce Sanjay Chadha; Tamil Nadu Industries Secretary N. Muruganandam; TIDCO Chairman and Managing Director Pankaj Kumar Bansal; Secretary of the Department of Micro, Small and Medium Enterprises Arun Roy; Additional Director-General of Foreign Trade Shanmuga Sundaram; MD & CEO of Guidance Pooja Kulkarni; Commissioner for Industries and Commerce Sigy Thomas Vaidhyan; and senior officials participated in the event.

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