Tamil Nadu's Investment Drive: MoU with US Firm to Boost Economy

The Tamil Nadu government has entered into an MoU with US-based Rapid Global Business Solutions, Inc to establish a new unit in the state with an investment of Rs 100 crore. This agreement is part of a broader initiative that aims to attract Rs 7,616 crore in investments from 18 companies during Chief Minister M K Stalin's US tour.

The Tamil Nadu government announced the signing of an MoU with US-headquartered Rapid Global Business Solutions, Inc on Friday. This agreement will see the company set up a new unit in the state, involving an investment of Rs 100 crore.

The MoU, signed in Chicago on September 12, was formalized in the presence of Chief Minister M K Stalin, Industries Minister TRB Rajaa, and senior state officials. The new electronic and telematics facility will be established in Hosur.

During his official US tour, Chief Minister Stalin secured investment agreements worth a total of Rs 7,616 crore with 18 companies. The tour concluded with a warm send-off from the Tamil diaspora in Chicago, who praised the achievements of the Dravidian model of governance under the DMK.

(With inputs from agencies.)