Tamil Nadu’s Global Investors’ Meet To Focus On Semiconductors, Non-leather Footwear & Automotive Sectors

Chennai, Nov 16 (KNN) The Tamil Nadu government through the third edition of the Global Investors’ Meet (GIM) will focus on sunrise sectors like semiconductors and non-leather footwear and traditional ones such as automotive which includes EVs, reported Deccan Herald.

With Tamil Nadu emerging as the frontrunner for investments in sectors like electronics manufacturing and electric vehicles (EVs), the state wants to utilise the third edition of Global Investors’ Meet (GIM) in January 2024 to move up the value chain in various sectors by wooing ecosystem builders and enablers to set up shops in the state. 

“This GIM will attempt at being different from the previous ones by focussing on employment generation, projects that are capital intensive, and moving up the value chain. We will also look at transitioning from Electronics manufacturing services (EMS) to high-value jobs,” V Vishnu, MD & CEO, Guidance, the state’s nodal agency for investments, told DH.

The emphasis is to bring in “ecosystem enablers and builders” in sectors like electronics, and EV to emerge as the leader by building on the component manufacturing ecosystem that exists in Tamil Nadu, Vishnu added. 

Industries Minister T R B Raaja said GIM-III will also showcase Tamil Nadu as not only a state which continues to flourish as a manufacturing hub but as one which has also gone beyond manufacturing to become a “knowledge economy.”

“We have witnessed premier global companies opening and expanding in Chennai in the past several months. They bring immense value by generating high-tech, high-value job opportunities in cutting-edge areas of technology,” Raaja told DH.

Raaja said while TN has largely consolidated its strengths in manufacturing over the past few years, the state has potential to go higher in the manufacturing value chain, even in well-established sectors like TechTex in Textiles. EV, Aerospace and Defence, and renewable energy.

“This is visible today as Tamil Nadu gets investments in GCCs, R&D and design to become the true knowledge economy in addition to being the auto, manufacturing, and allied industries hub,” he added.

The Global Investors summit will take place on January 7-8,2024.

(KNN Bureau)