Tamil Nadu Chief Minister Vijay signed four significant investment agreements in the United Kingdom today. These deals are valued at approximately Rs 12,300 crore and are expected to generate nearly 9,000 jobs in the state, as reported by the state government.
Government’s Larger Vision These agreements come against the backdrop of the investment vision outlined by the Tamil Nadu government when Vijay left for the UK. The focus areas identified by the government included advanced manufacturing, automobiles, electric vehicles, electronics and Global Capability Centres. The stated larger objective was to position Tamil Nadu as Asia’s leading investment destination. The visit has also been linked to the government’s plans to develop a world-class motor sports city in Tamil Nadu and create opportunities in racing-related manufacturing and allied industries. Opposition Questions Transparency
The government had said European companies had proposed investments worth Rs 8,491 crore in Tamil Nadu, with the potential to create 5,690 jobs, and that the UK visit would focus both on attracting fresh investments and strengthening existing investments in the state. The visit also came after the India-UK Comprehensive Economic and Trade Agreement, or CETA, came into force on July 15. The government has also claimed that investment MoUs worth more than Rs 1 lakh crore had been signed within the first 100 days of the TVK government.
The Tamil Nadu government said the agreement had opened up new opportunities for sectors such as textiles, leather, footwear, auto components, engineering and electronics.
