77% of MoUs have come through, says minister Rajaa
The current DMK govt assumed power in 2021 and since then attracted 10.32 lakh crore worth of non-binding agreements for investing into the state, he said.
"Out of the 631 agreements signed during the GIM 2024, in 525 cases either project construction has begun or the company has bought land, which makes for a conversion rate of 80%," he told reporters.
Govt is keen on converting MoUs into investments and employment and conducts periodic meetings to monitor the progress and consider interventions. "The sectoral progress is also being monitored. We are seeing faster project development and capital deployment in TN's traditional sectors such as automobiles, heavy engineering and in areas such as electronics manufacturing. Some projects in the emerging sectors are showing moderate progress and govt is working to improve that," he said.
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Rajaa, however, declined to release full list of names or investment details in what is called a "white paper" citing concerns over competition among states.
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