In a significant endorsement of Tamil Nadu's industrial policy, Chief Minister M K Stalin on Friday revealed that the state's governance model has successfully converted nearly 80% of signed Memorandums of Understanding (MoUs) into tangible investments. He attributed this high conversion rate to swift, transparent, and investor-friendly administration.
A Milestone Project in Record Time
The Chief Minister made these remarks while inaugurating the manufacturing facility of Bharat Innovative Glass Technologies Limited (BIGTECH) at the SIPCOT industrial estate in Pillaipakkam, Kancheepuram district. He spotlighted this project as a prime example of Tamil Nadu's efficient ecosystem. The plant, established with an investment of ₹1,003 crore, is set to create employment for over 840 people.
Notably, the unit is a venture involving Fortune 500 giant Corning International. Stalin emphasized that the commencement of production within a mere 17 months of signing the MoU is a remarkable milestone. "This project being completed in such a short period sends a clear message to global investors that Tamil Nadu delivers," he stated.
The Engine Behind the High Conversion Rate
Elaborating on the state's performance, Stalin said, "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 described this conversion rate as a powerful signal of robust investor confidence in Tamil Nadu's economy.
The BIGTECH plant itself is a landmark achievement. It will be the first in India to manufacture precision front-cover glass for mobile phones, commonly known as Gorilla Glass, using advanced processing technology. The MoU for this plant was signed in January 2024, and its foundation stone was laid in June of the same year, showcasing an accelerated timeline.
Vision for a Trillion-Dollar Economy
Reiterating his government's ambitious target, the Chief Minister said the focus remains on making Tamil Nadu a one-trillion-dollar economy by 2030. He assured that this development would be inclusive and broad-based, encompassing all districts and sectors across the state. A key pillar of this vision is generating substantial employment opportunities for the youth.
The successful and rapid establishment of the BIGTECH plant, according to Stalin, underscores the state's facilitative environment and its commitment to turning industrial commitments into ground reality, thereby strengthening its position as a premier investment destination in India.
