Chief Minister MK Stalin, who is slated to leave for the US on August 22 scouting for investments for Tamil Nadu, will chair a Cabinet meeting on August 13. 

According to sources in the Tamil Nadu government, the Cabinet will give clearance for huge investment projects in the state.

The Cabinet is likely to approve some key reforms to attract investment and generate jobs in Tamil Nadu. According to the state government, this move is expected to provide a perfect platform for investors from the US and other countries.

Tamil Nadu held a Global Investors’ Meet (GIM) in January.  Industries Minister, TRB Rajaa has said that 60% of the memoranda of understanding (MoUs) signed during GIM were in advanced stages of implementation.

As many as 631 MoUs were signed, with a commitment of Rs 6.64 lakh crore in investment. Of this, a manufacturing facility at Thiruporur would be inaugurated in December this year.

It may be noted that Tamil Nadu Industrial Development Corporation (TIDCO) is establishing two space parks adjacent to the upcoming space port at Kulasekarapattinam.

According to sources, during his US visit, Chief Minister Stalin will be pitching for investments in the space sector as it is booming.

The state has already constituted a nodal agency Guidance Tamil Nadu for bringing in investment. The Stalin government is now planning to open a desk of Guidance Tamil Nadu at Tokyo, Japan.

It may be recalled that around 200 Japanese companies involved in automobile manufacturing, transport equipment, machinery, electric machines and chemicals, have a presence in Tamil Nadu. 

The Cabinet is also set to discuss the state’s preparedness ahead of the north east monsoon. 

The Michaung cyclone and heavy rains in the southern districts caused many deaths and damage to property, last year. 

Sources in the government told IANS that the Cabinet meeting will also discuss the contention between the state and Union governments regarding the national budget. The state government had in July called the budget a “great betrayal” of Tamil Nadu and had said that none of the demands put forth on behalf of the state, including fund allocations for railways and the Chennai Metro Rail Limited (CMRL), had been taken into consideration.