Only 25% of investment promised in GIM I, II realised: Thennarasu

State Industries Minister Thangam Thennarasu on Tuesday presented a status report in the Assembly on the outcome of the two editions of Global Investors Meet (GIM) held during the previous AIADMK regime and said that only 25% of the promised investment was realised.

Replying during the debate on the demand for grants for his department, Thennarasu said that about Rs 2.42 lakh crore and Rs 3 lakh crore investment were promised in the 2015 and 2019 editions of GIM, but only Rs 65,456 and Rs 80,512 crore have been realised and commercial production started so far.

Stating that he was fulfilling the DMK’s promise of releasing a status report, Thennarasu said that about 4.7 lakh and 10.5 lakhs jobs were promised in 2015 and 2019, but only 1.8 lakh (38%) and 2.69 lakh jobs have been realized as on date. Disclosing that 11 of the 15 MoUs signed in the energy sector during the two investors’ meetings have been dropped, the Minister said that of the 98 and 304 projects promised in the first and second investors summits, only 64 and 151 were started. Stating that the promises of the previous regime have not been translated into action, Thennarasu told the House that Chief Minister MK Stalin had categorically instructed them after the recent investors conclave that the department should ensure that the promised industries are operationalised and people of Tamil Nadu were employed in them.

Adding that youths from southern districts were migrating to Chennai for jobs and hence mini-Tidal parks have been proposed in Thoothukudi, Villupuram, Vellore and Tiruppur, the Minister reiterated that the government was making efforts to create jobs in Tier I and II cities.