Analysis

Annamalai questions MK Stalin on Tamil Nadu Global Investors Meet 2024

7 months ago
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Tamilnadu stalin vs annamalai

In the recently finished Global Investors Meet (GIM) 2024, Tamil Nadu signed 631 MoUs and bagged Rs.6.64 crore investments, which will generate 28 lakh jobs. Let us decipher what type of companies are investing in Tamil Nadu and the exciting facts and debates about the concluded GIM.

Who are the investors? 

Over 30 countries were participants in the conclave. Indeed, companies like Hyundai, Tatas, Adani, Qualcomm, Reliance, Sembcorp and Saint Gobain are keen to expand their footprint in the deep south of India. Under the GIM 2024, Tamil Nadu has attracted investments in green energy, e-vehicles, non-leather footwear, automobiles, advanced electronic manufacturing, defence and aerospace and the time-tested Information Technology and digital services.

Stalin’s Dravidian Development Model

Tamil Nadu CM MK Stalin said, “Tami Nadu is the Global Investor’s first destination. Under our Dravidian model government, we implement schemes for Youngsters and Women’s Empowerment.

Further, Stalin asserted that Tamil Nadu aspires to become a One-trillion-dollar economy by 2030 with 18 per cent sustainable growth. We must note that under the GIM 2024, the investments are strategically distributed across the state, including deep down south, other than concentrating in Chennai. Remarkably, even tier 2 and Tier 3 cities and small towns also get investment to boost their opportunities. Such an infrastructure method could pave the way for balanced regional development.

Sector Wise Investment Segregation 

Let us see the Sector-wise investment in GIM 2024:-

  • Industries and Commerce will invest Rs.3,79,809 cr
  • The energy sector will invest Rs.1,35,157 cr
  • Housing and Urban Development will invest Rs.62,939 cr
  • IT and Digital Services will support Rs.22,130 Cr
  • MSME will invest Rs.63,573 cr.

Major Companies Investment 

Tata Power will invest Rs 70,800 crore for renewable energy projects and to support the state’s renewable energy landscape development. Adani Group will invest Rs 42,700 crore in Tamil Nadu, aiming to be channelled into three pump storage projects and develop a hyperscale data centre over the next seven years. Sembcorp is establishing a green hydrogen plant in Thoothukudi district with a proposed investment of ₹36,238 crore. Vietnam-based electric vehicle manufacturer VinFast will invest Rs 16,000 crore to set up an electric vehicle car and battery manufacturing facility in southern Tamil Nadu.

Union Minister of Commerce & Industry, Piyush Goyal, said, “Tamil Nadu CM, MK Stalin is serious about making decisions regarding the development of Tamil Nadu.”

Tamil Nadu Compete with Scandinavian countries

Tamil Nadu Industries Minister TRB Rajaa stated that our state is not competing with any other states in India. We compare ourselves to Scandinavian countries and adhere to global standards. We aim to become a knowledge-based economy. Our goal is to achieve the rank of the 45th largest economy globally. We will make an essential pitch at the World Economic Forum in Davos as our next destination. Afterwards, we intend to broaden our efforts to reach out to Europe and Australia for more investments.

Also Read: Is Annamalai ready to face the Battle in the Land of Dravidians?

Envisioning the Manufacturing Capital of India

The Minister for Industries in TamilNadu valued the need to foster partnerships built on mutual respect with diverse enterprises, especially those in the manufacturing industry. Tamil Nadu aspires to be acknowledged as the leading manufacturing centre of India, with 45,000 operational factories and several others under progress.

Furthermore, Tamil Nadu would be a highly suitable option for Elon Musk of Tesla if he intends to set up manufacturing facilities in a state that prioritises environmental sustainability and social growth. Tamil Nadu is implementing progressive legislation prioritising diversity, equity, and inclusion. This includes measures to address the inclusion of transgender and LGBTQI individuals.

Furthermore, the state is dedicated to promoting a workforce encompassing various backgrounds and perspectives. Upon evaluating our workforce, it is worth mentioning that Tamil Nadu accounts for 43 per cent of the total employed women in India, which is a significant indicator of the importance of the Dravidian government.

Challenges and Criticism 

Is investing in Tamil Nadu a straightforward endeavour? The primary obstacle in Tamil Nadu is the purchase of land for infrastructure projects; there is a daily growing uprising among the people against companies. According to data from India’s Home Ministry, Tamil Nadu ranks first in the most protests in India over the past decade. An adverse political culture and economic climate hinder the state’s business environment.

Meanwhile, TN BJP President Annamalai said Nothing to boast about these investments. He said, “In February 2023, Uttar Pradesh had conducted a similar meet and signed MoUs worth over Rs 33 lakh crore, five times greater than what Tamil Nadu has now attracted. In February 2022, even Karnataka had attracted investments worth over Rs 9 lakh crore”.

Less Investment Due to Hindi

In the land of Ant-Hindi Politics, Annamalai further retreated, and the state government is getting fewer investments due to the language barrier.

Annamalai stated that numerous organisations from northern India are conducting recruitment drives nationwide. He further mentioned that many individuals fluent in Hindi tend to favour Bengaluru, located in the state of Karnataka, over Tamil Nadu. This preference arises from the fact that in Tamil Nadu, they would be required to interact in the Tamil language. The reason for the decrease in investments is due to this. 

Additionally, the Tamil Nadu BJP President stated that anyone who is interested in acquiring knowledge of Hindi has the option to do so, while others have the freedom to disregard it. Our proposition entails implementing a policy that involves the use of three languages.

Prime Minister Narendra Modi has never coerced anyone into acquiring proficiency in the Hindi language. It is essential to develop proficiency in Tamil and English, whereas the inclusion of a third language is discretionary and can encompass any language. People near Hosur learn Kannada; in Coimbatore, people learn Malayalam, and many people here learn Telugu. We cannot stop them from studying that. Learn whatever you wish; this is BJP’s stand. 

However, the debate is deep comprehending the Hindi learning discourse intersects with the investment. The pertinent question is whether these investment promises will become actual investments, and job creation is a big question.

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