Tamil Nadu Secures Major Investments from Leading Global Firms

The Tamil Nadu government signed MoUs with six major companies—Nokia, PayPal, Yield Engineering Systems, Microchip, Infinx, and Applied Materials—in San Francisco, securing Rs 900 crore in investments. The agreements aim to generate 4,100 jobs across Chennai, Coimbatore, and Madurai. Chief Minister M K Stalin is leading the initiative.

The Tamil Nadu government has sealed significant investment deals with prominent global firms, including Nokia, PayPal, and Yield Engineering Systems, among others, securing a total commitment of Rs 900 crore. The move, aimed at generating 4,100 jobs across key cities—Chennai, Coimbatore, and Madurai—was announced on Friday.

The agreements were formalized through the signing of MoUs in the presence of Tamil Nadu Chief Minister M K Stalin at an investors meeting in San Francisco. The chief minister, who is leading a high-level delegation, is currently on a tour to the United States to attract investments, with an eye on transforming Tamil Nadu into a USD one trillion economy by 2030.

Several noteworthy deals include Nokia establishing a new R&D center in Chengalpattu, and PayPal setting up an Advanced Development Centre focused on AI in Chennai. These investments, along with contributions from other firms, underscore Tamil Nadu's growing appeal as a global investment hub.

(With inputs from agencies.)