T.N. attracted solely 8.8% of funding claimed by DMK

PMK chief Anbumani Ramadoss on Wednesday alleged that solely 8.8% of the overall funding of ₹11.32 lakh crore, as claimed by the DMK authorities, had been made in Tamil Nadu since 2021. He urged the federal government to launch a White Paper on investments.

Releasing a booklet titled “DMK’s lies about industrial investments” in Chennai, Dr. Anbumani claimed the DMK had been systematically mendacity about investments to the individuals. “Of the 1,059 Memorandum of Understandings (MoUs) signed by the State authorities, 40% have been merely expansions of the already current manufacturing facility models. Only 5% of the MoUs have been realised in full.”

“The State authorities has been repeating the lie that 77% of ₹11,32,000 crore has been realised, and 80% of the MoUs signed in 2024 Global Investors Meet has been realised. This is nothing however ‘Goebbels propaganda’ by Chief Minister and Industries Minister,” he mentioned.

According to him, solely 5%-8% of the big-ticket investments reminiscent of Tata Power (₹70,800 crore), ACME Clean Tech (₹52,474 crore), Adani Group (₹42,768 crore), Singapore-based Semb Corp (₹36,238 crore), Petronas (₹30,000 crore), Singapore-based IGSS Innovative Global Solutions and Services (₹25,600 crore), CPCL (₹17,000 crore), and JSW (₹12,000 crore) have been realised. Highlighting Hwaseung Enterprise’s resolution to go away Tamil Nadu for Andhra Pradesh, he claimed the rationale why corporations have been leaving the State was “corruption, fee, assortment”.

He added: “Of the MoUs price greater than ₹1,000 crore, not even one has been carried out. For instance, VinFast Group had mentioned it will make investments ₹16,000 crore and supply 3,500 individuals, however invested solely ₹4,000 crore… however, it has promised to speculate over the following 10-15 years. But, the DMK claims that ₹16,000 crores have been invested.”

He urged Chief Minister M.Ok. Stalin and Industries Minister T.R.B. Rajaa to make clear when an organization is investing for enlargement and when it’s making a brand new funding. “It appears they don’t know the distinction between the 2. In 2021-22, the overall worth of MoUs signed was ₹68,405 crore. Of this, 24 MoUs have been greater than ₹1,000 crore. A complete of 9 corporations invested solely 8%-15% of what they promised. They signed MoUs for ₹68,000 crore, however solely ₹10,000 crore has come into Tamil Nadu. Similarly, in 2022-23, of the 86 MoUs signed, 80 MoUs haven’t been carried out. Only ₹7,000 crore of a complete of ₹1,67,000 crore investments have come into Tamil Nadu,” he mentioned.

Chief Minister M.Ok. Stalin signed 66 MoUs throughout his tour to overseas nations, reminiscent of Dubai, England, Spain, Singapore, Japan, Germany and United States, to draw investments. “The proposed investments, which have been to be made in Tamil Nadu, have been roughly ₹34,000 crore, and these have been to create 47,650 jobs. What is humorous is that not even a single rupee of funding has come into Tamil Nadu. He should reply the individuals. Why did he go to those nations…losing taxpayers’ cash,” he mentioned.

He criticised the Union authorities for rejecting the State authorities’s proposal to construct a Metro Rail system for Madurai and Coimbatore, and mentioned the PMK would put strain on the BJP.