Chennai sources stated that Tamilnadu Chief Minister K. Palaniswami on Wednesday said the state has attracted over Rs 200,000 crore of investments during the Global Investors Meet-2019 (GIM-2019). Meanwhile when speaking at the inaugural function of GIM's second edition in Chennai, Palaniswami said "This edition has targeted an investment of 2 lakh crore rupees, which I am happy to say has already been exceeded."
Furthermore he said the final tally of investment proposals would be announced on Thursday. Reports added proposals for new investments have been pouring in the last one year, since preparation for GIM-2019 started. Further Palaniswami said the first GIM was held in 2015 which attracted 98 investment proposals with an investment commitment of Rs 2.42 lakh crore over three to seven years period.
Moreover he said about 35 companies from Tamilnadu have already signed Transfer of Technology agreements with the Defense Research Development Organization (DRDO). Palaniswami remarked "LMW is establishing an aerospace and defense components manufacturing unit in Coimbatore. Many more such projects are on the anvil". Reportedly he said the state government has promoted an exclusive aerospace and defense park in 250 acres, which can be expanded to 700 acres in Sriperumbudur near Chennai.
