Investment promotion panel holds first meeting, targets $72 billion in exports
Discussions also focused on the proposed new industrial policy, single-window clearances, and MoUs inked since the TVK-led government came to power
The Tamil Nadu Investment Promotion Commission (TNIPC), chaired by Chief Secretary Sai Kumar, convened its inaugural meeting to chart a course for boosting the state's exports and industrial growth. Discussions centered on the forthcoming New Industrial Policy 2027, single-window clearance processes, progress on Memoranda of Understanding (MoUs), and strategies to enhance the State's export potential.
Since July 2026, extensive consultations with stakeholders have been conducted to refine existing industrial policies and ensure they address areas needing revision. The government, following the formation of the TVK administration, has already signed 112 MoUs, signifying investments of over ₹1.14 lakh crore and the potential to create employment for 1,32,771 individuals. Currently, 83 MoUs are advancing through the land allotment stage, with the overall implementation pace at 74.11%.
The Commission deliberated on leveraging India's Free Trade Agreements (FTAs) to broaden Tamil Nadu's international market reach and elevate export figures. With an ambitious target, the State aims to raise its export volume from the current $59 billion to $72 billion. The TNIPC has also directed all departments to ensure compliance with the amended Business Facilitation Act, mandating a 21-day processing window for relevant applications.
Additionally, the Tamil Nadu Power Distribution Corporation Limited (TNPDCL) is tasked with establishing mechanisms to expedite the issuance of High Tension (HT) and Extra High Tension (EHT) connections for industrial establishments.
Furthermore, emphasis has been placed on conducting export promotion meetings at the district level, complementing existing State-level gatherings. The mission of the TNIPC is to propel Tamil Nadu towards a $1.5 trillion economy by 2036. Constituted on November 3, 2026, under Section 16A of the amended Tamil Nadu Business Facilitation Act, 2018, the Commission comprises 20 members hailing from pivotal government departments, including Finance, Energy, IT, Housing, Transport, Environment, Labour Welfare, and Commercial Taxes.
The Commission's mandate extends to focusing on major investment proposals surpassing ₹200 crore, projects generating 5,000 or more jobs, and initiatives necessitating inter-departmental coordination for swift execution.
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