Tamil Nadu Chief Minister MK Stalin, currently on a two-week official tour of the United States, has announced major investments from global tech giants such as Nokia, PayPal, and Microchip. These agreements are expected to generate over 4,100 jobs and bring substantial investment to the state.
During his tour, CM Stalin signed six Memoranda of Understanding (MoUs) with various companies, securing investments totaling ₹900 crore. This initiative is anticipated to bolster Tamil Nadu’s economy and create thousands of new job opportunities.
In a post on X, Stalin detailed the investments secured during the first day of his visit to San Francisco. The agreements include:
- Nokia: ₹450 crore investment to establish its largest fixed network test bed in Chengalpattu. This facility will focus on advancements in 10G, 25G, 50G, and 100G technologies and is expected to create 100 jobs.
- PayPal: An advanced AI development centre will be set up in Chennai, generating 1,000 jobs.
- Yield Engineering Systems: Investing ₹150 crore in a product development and manufacturing centre for semiconductor equipment at Sulur, Coimbatore, which will provide 300 jobs.
- Microchip: Establishing an R&D centre for semiconductor development in Semmencherry, Chennai, with an investment of ₹250 crore and the creation of 1,500 jobs.
- Infinx: Setting up a global delivery system at Vadapalnji, Madurai, investing ₹50 crore and creating 700 jobs.
- Applied Materials: An advanced AI-enabled tech development centre for semiconductor manufacturing will be established in Chennai, generating 500 jobs.
The agreements were formalized at Silicon Valley, reflecting Tamil Nadu’s growing prominence in the tech and innovation sectors. These investments align with CM Stalin’s goal of attracting high-end jobs and fostering advancements in AI, research, and development.
This visit marks Stalin’s fourth overseas trip as Chief Minister, focusing on securing investments in AI, R&D, and global capacity centres. Over the past three years, the Tamil Nadu government has reported securing investment commitments worth ₹9.3 lakh crore, projected to generate 31 lakh direct and indirect jobs.
Sources By Agencies
