Tamil Nadu’s FDI: $10 billion in four years, fourth place

In Current Affairs 2023
December 15, 2023

Foreign Direct Investment (FDI) worth almost $10 billion has come into Tamil Nadu over the last four years, from October 2019 to September 2023. FDI into the state, on the other hand, dropped from $3 billion the previous year to $2.17 billion in fiscal year 2022–23.

tamilnadu

Breakdown of FDI

Comparison by Year:

$2.17 billion for the fiscal year 2022–23
$3 billion for the fiscal year 2021–22

Out of 10

During the given time period, Tamil Nadu is the fourth state that brings in the most FDI, after Maharashtra, Karnataka, and Gujarat. But it is a long way behind the top three states. Haryana and Telangana are very close behind.

Government Projects

The Tamil Nadu Global Investors Meeting will take place on January 7 and 8, 2024. Its goal is to make the state a better place to spend.
Som Prakash, Union Minister of State for Commerce and Industry, talked about the investor-friendly FDI strategy put in place by the Center when asked about steps to attract FDI. Most industries, except for those that are strategically important, let 100% FDI through the automatic method.

FDI reforms are still going on in many areas, such as Defence, Pension, Financial Services, Asset Reconstruction Companies, Broadcasting, Pharmaceuticals, Single Brand Retail Trading, Construction & Development, and Civil Aviation.

These reforms show that the government wants to make the country an attractive place for investors.