The Tamil Nadu Global Investors Meet (TNGIM) is a business summit by the Tamil Nadu government to attract domestic and foreign investments. It aims to create job opportunities and a conducive investment climate.
The most recent TNGIM, held in January 2024, attracted significant investment commitments and global leaders’ participation.
Energy, electronics, automotive, food processing, heavy engineering, leather, fintech, and semiconductor manufacturing were among the sectors represented at the event. The state government is also encouraging semiconductor manufacturing and has launched STARTUP Tamil Nadu to encourage innovation.
Here are some of the companies that signed the MoU.
Sundaram Clayton Ltd
Sundaram Clayton Limited has entered into a Memorandum of Understanding (MoU) investment of Rs. 500 Cr in 5 years by SCL and facilitation and support by the Government of Tamil Nadu.
The company is a leading manufacturer of aluminum die-casting components. It supplies major automotive OEMs including TVSM, the Cummins group, etc. SCL was founded by the TVS group and Clayton Dewandre Holdings Ltd of the United Kingdom.
IRM Energy Ltd
IRM Energy Ltd has entered into a Memorandum of Understanding (MoU) Investment of Rs. 858 Crores in the next 5 years agreement. In the proposed project and employment of 2200 people by IRMEL and facilitation and support by the Government of Tamil Nadu.
IRM Energy Limited, founded in 2015, is a gas distribution company that develops, operates, and expands a local natural gas distribution network.
Brigade Enterprises Ltd
Brigade Enterprises Limited has signed Memorandums of Understanding (MoU) with the Government of Tamil Nadu to invest over Rs 3400 crores in the state, potentially employing 25,000 people over the next three to four years.
Brigade Enterprises Ltd. was founded in 1986. It is a South Indian real estate developer based in Bengaluru that is expanding its operations to other parts of India.
Bharat Forge Ltd
As part of the Tamil Nadu Global Investors Meet 2024, Bharat Forge Ltd. signed a Memorandum of Understanding (MoU) committing to invest up to Rs 1,000 crores over five years to increase our manufacturing presence in Tamil Nadu.
Bharat Forge is a company that produces and markets machined and forged parts for the automotive and industrial industries.
Eicher Motors Ltd
Royal Enfield signs a Memorandum of Understanding (MoU) with the Tamil Nadu government for a proposed Rs 3,000 crore investment in brownfield and greenfield projects in the state.
Eicher Motors Limited, founded in 1982, is the listed company of the Eicher Group in India, a major player in the Indian automobile industry, and the global leader in middleweight motorcycles.
Tata Power Company Ltd
Tata Power Ltd subsidiary company Tata Power Renewable Energy Limited (TPREL) has signed a Memorandum of Understanding (MoU) with the Government of Tamil Nadu to invest nearly Rs 70,000 crores in the state to develop 10,000 MW solar, wind, and other renewable projects across 50,000 acres.
Additionally, TPREL will invest an extra ₹800 crore to expand its 4GW solar cell and module plant in Tamil Nadu, upgrading infrastructure and adding 300 MW each of cell and module lines with TOPCon technology.
Tata Power Company Ltd primarily generates, transmits, and distributes electricity. It intends to generate all of its electricity from renewable sources.
Written by Sriram KV
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