Tamil Nadu government is keen on generating high value jobs and help the state transition into knowledge economy during the third edition of Global Investors Meet scheduled next year rather than focussing only on total number of investments, according to Tamil Nadu Industries Minister T R B Rajaa.
"The focus will be on knowledge assimilation rather than on low value job creation," the Industries minister told reporters at Tidel Park in Taramani. The Global Investors Meet will celebrate knowledge and listen to the best minds of the world. We are not going to focus mainly on investments during the third edition of GIM," said the minister. The state during the first edition of Global Investors held in September 2015 wooed more than Rs 2.42 lakh crore while the second edition held in January 2019 wooed investments worth 3.004 lakh crore.
Stating that Tamil Nadu never competed with other states in the country as it is way ahead in industrial growth, he said the focus is to compete globally and with countries. He said that Tamil Nadu as a state has never highlighted its achievements unlike others despite having vast talent and capability. "It is time the state has to take pride in its achievement," he said.
The minister also highlighted his keenness to bring more investments into Southern Tamil Nadu and said he is pushing for a large industrial giant to venture in the deep south. "Before Global Investors Meet, there could be a lot of investments happening in Southern Tamil Nadu," the minister said. He also said that in Cauvery delta, value addition will be given to agriculture products.
Highlighting on the investment by American multinational shipping and supply chain management company United Parcel Service’s (UPS) Technology Centre in Chennai, the minister said that another major investment in Global Capability Centre is likely to be announced soon. The minister said that the state is looking at investments which will provide high paying jobs for Tamil students.
The minister also said that the state's aim is to be numero uno state in production of green hydrogen but the hitch is that the state requires pump storage. The most significant challenge in achieving this transition to renewables is the need to maintain sufficient storage to address daily variations in solar and wind power. Solar electricity production is highest at midday, when electricity demand is typically lowest, while electricity demand peaks at night when solar energy production is near zero. Grid instability due to demand and supply mismatches can result in load shedding or even complete blackouts. For Tamil Nadu, this implies a significant need for long-duration energy storage systems.
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