Tamil Nadu: top investment destination
Part of: GS Mains III – Economy – Investment
- Tamil Nadu has emerged as the country’s top investment destination in the first quarter of this financial year.
- Overall fresh investment announcements in India slumped to the lowest in five years.
- The Tamil Nadu government had signed 17 MoUs , whereas Maharashtra had signed 12 MoUs with firms from Singapore, South Korea and the U.S. through a virtual summit.
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The nationwide lockdown has also led to suspension of work on investment projects worth around Rs. 21.12 lakh crore due to critical factors such as shortage of labour, funds and equipment.