Tamil Nadu looks for funding from the UAE

Several Memorandums of Understanding (MoU) were signed by the deputation with UAE stockholders during the visit producing INR 4,200 crores of funding.
DUBAI: Edappadi K Palaniswami, Chief Minister of South Indian state of Tamil Nadu discoursed a high-level meeting with representatives of the Business Leaders Forum (BLF) to look for overseas investments for the nation’s formidable megaprojects. This is the first visit of Mr. Palaniswami to the UAE since he supposed office as Tamil Nadu Chief Minister.

His Grace Shri Vipul, Consul General of India to Dubai, said, “The UAE is the last destination of Mr. Palaniswami’s three-nation tour. Before his arrival in Dubai, the Tamil Nadu Chief Minister went to the US and the UK in a bid to pursue stockholders to invest in the State, which is encouraged as one of Asia’s most preferred investment targets. The Indian aim in Dubai is very willing to ease the signing of this massive number of MoUs. Such a high-level State visit not only encourages two-way investment chances but are critical to the tie between India and the UAE.”

The exclusive investor’s roundtable was hosted by BLF, which is an initiative of the Indian Embassy in the UAE, the UAE Ministry of Economy, and India Trade & Exhibition Centre ME (ITEC) as the official secretariat, and the Consulate General of India in Dubai.

Addressing the stockholders, the Chief Minister said, “It is a privilege to be here, at a time when the relationships between India and the UAE are at their best ever. The recent conferment of ‘Order of Zayed’, the highest civilian honor of the UAE, on the honorable Prime Minister of India, is a testimony to our growing partnership. I am glad to visit the UAE as part of my two-week foreign tour across the world’s three promising nations.”

“Tamil Nadu has been taking various initiatives to further promote sectors like e-vehicle manufacturing, electronics, hardware and software, food processing, aircraft MRO facilities, and so on. This visit is to seek tangible investments for Tamil Nadu that is mutually rewarding for both the State and the investors. I am happy that the business community in the UAE and the investors here are very keen to know more about our offerings for investment,” he elaborated.

Mr. Palaniswami’s said, “Facts and figures speak for itself for Tamil Nadu. Frost and Sullivan have ranked Tamil Nadu the second in their overall ranking and first in investment potential among the other Indian States; whereas a survey by ‘India Today’ has placed Tamil Nadu as the number one State for overall performance.”

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