Tamil Nadu is not worried about the quantity of investments coming to the state but about the quality of the investments, said TRB Rajaa, the Minister for Industries, Tamil Nadu.
"Any investor coming into India has knocked on our door first, our Chief Minister's door first. So, I think attracting investment hasn't been a problem. It's about the quality of investment that's come through for us," Rajaa told CNBC-TV18 at the World Economic Forum 2024 in Davos.
He highlighted Tamil Nadu's impressive track record as the top destination for investments in India.
"We are very choosy about who comes in, what sort of jobs are created, and where those are created," he said while explaining that Chief Minister MK Stalin is keen on ensuring distributed growth across the state, moving beyond the urbanised areas, and encouraging development in the southern and delta regions.
He pointed out that Stalin was particular about not concentrating industries in specific urban centres but spreading them across the state.
Discussing the state's policy continuity, Minister Rajaa highlighted the positive investor sentiment even with regime changes. He noted that the faith investors have in Tamil Nadu is evident through reinvestments.
"The investors are happy, and those who have invested have reinvested in Tamil Nadu," he said.
Looking ahead, Rajaa outlined key milestones for 2024. He expressed a keen interest in bringing semiconductor manufacturers on board, emphasising the creation of high-end jobs through research and development in this sector.
The minister revealed that Tamil Nadu had achieved ₹3 lakh crores of investment before 2021 and an additional ₹6.64 lakh crores after that. The state is now eyeing the ₹10 lakh crore mark, with ambitions to surpass it in the coming months, possibly before the next budget.
(Edited by : Ajay Vaishnav)
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
