Embarking on an ambitious journey, Tamil Nadu has set its sights on becoming a $1 trillion economy by 2030. At the recently concluded Global Investors Meet 2024, the state government unveiled the Semiconductor and Advanced Electronics Policy 2024, signaling a strategic move to attract substantial investments.
Renowned economists Raghuram Rajan and Arvind Subramanian emphasized the need for Tamil Nadu to draw in ‘high-skilled manufacturing allied to services in the knowledge economy’ and low-skilled manufacturing, which generates a significant number of jobs, to achieve its trillion-dollar economy goal by the beginning of the next decade.
The event witnessed a surge in enthusiasm among business stakeholders, with Ola Electric’s CEO Bhavish Aggarwal anticipating the potential employment of 25,000 individuals at the company’s new EV hub in Krishnagiri district, operational from the next month.
Mukesh Ambani, Chairman and Managing Director of Reliance Industries, announced the upcoming opening of a data center in Chennai next week, in collaboration with Canada’s Brookfield and US-based Digital Reality.
In a major boost, the state secured investment agreements exceeding $4.39 billion with industry giants, including Apple suppliers Tata Electronics and Pegatron, as well as automotive leader Hyundai Motors.
Qualcomm, too, pledged expansion in Chennai with a new design center, involving a proposed investment of Rs 177.27 crore and the creation of up to 1,600 skilled professional jobs.
An interesting revelation emerged during the event: Samsung Electronics and Google are set to leverage Qualcomm’s cutting-edge computing chip, the Snapdragon XR2+ Gen 2, designed to power mixed and virtual reality headsets. This chip has the capability to handle data feeds from a dozen cameras inside the headset.
Exclusive Interaction with Hon’ble Minister for Micro, Small, and Medium Enterprises, Thiru. T.M. Anbarasan at the Startup Pavilion during the Tamil Nadu Global Investors Meet 2024. Discover the latest innovations showcased by startups, and stay tuned for thrilling updates on StartupTNs, TN Startups, Investors, and key stakeholders in action. Follow #TNGIM2024 for more insight
TNGIM2024 unfolded as an enlightening and action-packed event for StartupTN and the entire Startup Ecosystem community. The two-day quadrennial gathering featured insightful keynote talks by Mr. Suresh Sambandam, Founder & CEO of Kissflow, and a Fireside Chat with Mr. Srinath Ravichandran from AgniKul Cosmos, joined by Mr. Mohan K of IppoPay on January 7.
Dr. Raghuram Rajan, Former RBI Governor, added profound perspective, emphasizing the significance of forces propelled by the goal of a $1 trillion economy in the state: ‘What is more important than actually achieving the goal of a $1 trillion economy are the kind of forces that it propels within the State. It focuses everybody’s mind towards taking the necessary steps to achieve it.’ Stay connected for more thrilling updates on StartupTNs, TN Startups, Investors, and other dynamic stakeholders in action at TNGIM2024