During the launch day of the Tamil Nadu Global Investors Meet 2024, the state government revealed the signing of the Memorandum of Understanding (MoUs) valued at over Rs 60,000 crores or $7.5 billion. These committed investments are anticipated to have a positive impact on diverse districts in the southern Indian state, potentially generating 50,000 jobs across various sectors. Notable investors include Tata Electronics, Vin Fast (Vietnamese EV firm), Hyundai, JSW Energy, TVS Group, First Solar, and Godrej, among others.

In his opening speech at the premier event organized by the State Government, Chief Minister MK Stalin of Tamil Nadu expressed the expectation of a substantial influx of investments into the state. The inaugural ceremony witnessed the presence of India's Minister for Industry and Commerce, Piyush Goyal, alongside key officials from the Tamil Nadu Government, foreign delegates, and prominent business leaders. "India will grow when the states grow," Piyush Goyal said, elaborating that every part of India (all 28 states and 8 Union Territories) contributes to the success of the nation and towards the goal of a 'Viksit Bharat' (developed India). He also stated that India is the world's fastest-growing large economy and the country's foreign reserves are at a significant high, at $623 billion.

The nine official partner nations for the event are Singapore, Korea, England, Japan, France, Australia, Germany, Denmark, and America. The Tamil Nadu government said that there are representations from nearly 50 nations taking part. Home to four International airports and seaports, Tamil Nadu is India's second-largest state economy and contributes around nine percent of the national GDP. Among the states, it is the third largest exporter in the country, with more than $40 billion worth of exports in 2022-23.

Over the past few decades, Tamil Nadu has solidified its position as India's hub for automobile manufacturing, encompassing both two and four-wheelers. Additionally, it stands out as a prominent generator of wind energy and has recently witnessed remarkable strides in attracting investments in the Electric Vehicles sector while excelling in the export of electronic goods. A noteworthy aspect of the state's inclusive development is that over 43% of women employed in manufacturing roles in India are situated in Tamil Nadu.

Speaking to WION, TRB Rajaa, Tamil Nadu's Minister for Industries, said that he was delighted about the job opportunities that these investments would bring to the youth of the state and how the investments were spread across parts of the state. He mentioned that their Government is focused on a growth model that promotes diversity, sustainability and inclusivity. He added that there would be more MoUs exchanged with Indian and foreign firms on the second and final day of the event. However, when queried about the estimate of total investments that the state could receive, he refused to reveal numbers and replied that it would be huge.

The Investors Meet featured the unveiling of an all-encompassing action plan aimed at realizing the Chief Minister's goal of attaining a $1 trillion economy for the state by 2030. Experts and leaders from diverse sectors including defense and aerospace, semiconductors, sustainable mobility, skilling, renewable energy, electronics, and Micro, Small, and Medium Industries participated in the event. Alongside sector-specific sessions, several countries, including the US, Denmark, Germany, South Korea, Australia, and Singapore, presented a spectrum of opportunities for partnership and collaboration with Tamil Nadu.