Swift approach led to implementation of 80% of MoUs: CM

Chennai: Chief minister M K Stalin on Friday said Tamil Nadu's "swift, transparent and investor-friendly" governance model had ensured that nearly 80% of the Memorandums of Understanding (MoUs) signed by the state had translated into actual investments. This conversion rate was a strong signal of investor confidence, he said. Inaugurating a manufacturing unit of Bharat Innovative Glass Technologies Limited (BIGTECH) at SIPCOT estate in Pillaipakkam in Kancheepuram district, Stalin said the commencement of production by a Fortune 500 firm—Corning International—within 17 months of signing an MoU, was a milestone that underscored Tamil Nadu's facilitative environment for industries. The BIGTECH plant established at a cost of 1,003 crore would provide jobs for more than 840 people, he said. The MoU for setting up the plant, which would manufacture gorilla glass for mobile phones, was signed in Jan 2024 and the foundation stone was laid in June. "This project being completed in such a short period sends a clear message to global investors that Tamil Nadu delivers," Stalin said. The plant will be the first in India to manufacture precision front-cover glass using advanced processing technology. "The government has signed more than 1,000 MoUs and ensured that nearly 80% have materialized. This is the result of our swift decision-making, transparency and sustained focus on world-class infrastructure," he said. Reiterating the government's goal of making TN a one-trillion-dollar economy by 2030, Stalin said development would be broad-based, covering all districts and sectors, with emphasis on creating jobs for youths across the state.
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