Tamil Nadu CM MK Stalin Seeks U.S. Investments to Boost State’s Economy

San Francisco (California) [US], August 30: Tamil Nadu Chief Minister MK Stalin is on an official visit to the United States to attract investments and support for the state’s economic growth. He is meeting with major US-based companies to discuss potential investments in Tamil Nadu.

On the first day of his visit, Stalin announced that Tamil Nadu secured investments exceeding Rs 900 crores in cities like Chennai, Coimbatore, Madurai, and Chengalpattu, creating 4,100 new jobs across various sectors. He shared on X, “Nokia – Rs 450 crore, 100 jobs, PayPal – 1,000 jobs, Yield Engineering Systems – Rs 150 crore, 300 jobs; Microchip – Rs 250 crore, 1,500 jobs; Infinx – Rs 050 crore, 700 jobs; Applied Materials – 500 jobs.”

Speaking at the San Francisco Investment Conclave, Stalin highlighted Tamil Nadu’s economic achievements, including its status as India’s second-largest economic state, high urbanization rate, and notable accomplishments in education. “48 percent of the state is urbanized, making Tamil Nadu one of India’s most urbanized states. We have more enrollment in higher education than any other state in India, with 48 percent of the population engaged in higher education,” he said.

Stalin emphasized Tamil Nadu’s strong industrial base, stating, “Tamil Nadu is one of the fastest-growing economic states in the world, with 39,000 factories and 2.6 million workers in industries.” He expressed his vision for the state, aiming to make Tamil Nadu a one trillion-dollar economy by attracting industries with substantial capital and job creation.

He invited investors to consider Tamil Nadu for their next expansion, especially in semiconductors, electronics, and research and development. “We welcome investments in semiconductors, electronics, and research and development. Tamil Nadu is ready to roll out the red carpet for investors,” he said.

Stalin also highlighted the ease of doing business in Tamil Nadu, with streamlined permissions and licenses making it easier and faster to set up and operate businesses. He noted the strong relationship between Tamil Nadu and the United States, with over 300 American companies already operating in the state, including Cognizant, Ford, Honeywell, and Qualcomm.

During the investors’ conference, the state government signed several MoUs on potential investments. Microchip Technology will invest Rs 250 crore to set up an R&D Center in Semiconductor Technology in Chennai, likely providing employment to 1,500 people. Yield Engineering Systems will invest Rs 150 crore to set up a Product Development and Manufacturing Facility for Semiconductor Equipment. Nokia will invest Rs 450 crore in a new research and development center with the world’s largest fixed network test facility at Sirucherry. The Tamil Nadu government also signed MoUs with companies like PayPal, Infinx, and Applied Materials.