Tamil Nadu CM Stalin Signs Rs 8.5 bn MoUs with Lincoln, Vishay, Visteon

10 Sep 2024 CW Team

The previous day, Tamil Nadu had finalized a Rs 20 billion MOU with Trilliant to establish a manufacturing unit and create a Development and Global Support Centre within the state. Stalin expressed excitement about this development, noting that the partnership with Trilliant was valuable.

Additionally, Stalin reported having productive discussions with Nike regarding the expansion of footwear production in Chennai and engaging with healthcare firm Optum to develop a talent pipeline in the state. Earlier, Stalin had signed MOUs with Eaton, a multinational power management company, for a Rs 2 billion expansion of their R&D and engineering centre in Chennai. These MOUs were expected to create 500 jobs. He also mentioned a pact with Assurant, a risk management solutions provider, to set up the first Global Capability Centre in the state.

During his official visit to the United States, Stalin secured several other agreements. On August 31, 2024, an agreement was signed with Ohmium to establish a factory in Chengalpattu district for producing electrolysers and green hydrogen, with an investment of Rs 4 billion and the creation of 500 jobs. Stalin described this deal as a crucial step toward fostering a green energy ecosystem and promoting sustainability.

On August 30, 2024, Stalin held meetings with senior officials from Apple, Google, and Microsoft to invite them to invest in Tamil Nadu and signed an MoU with Google to set up artificial intelligence (AI) labs in the state.

Furthermore, on August 29, 2024, during an investors' conference in San Francisco, Stalin oversaw the signing of MOUs with six prominent global companies "Nokia, PayPal, Yield Engineering Services, Microchip, Infinx Healthcare, and Applied Materials" committing Rs 9 billion and creating 4,100 job opportunities.

Tamil Nadu Chief Minister MK Stalin announced that the state had secured Memorandums of Understanding (MOUs) worth Rs 8.5 billion with US-based companies Lincoln Electric, Vishay Precision, and Visteon. In a social media post on X, Stalin remarked that every new day in the land of opportunities brings fresh hopes. He highlighted that the MOUs with these companies were a significant step toward realizing the state's vision, attributing this progress to relentless effort and determination. The previous day, Tamil Nadu had finalized a Rs 20 billion MOU with Trilliant to establish a manufacturing unit and create a Development and Global Support Centre within the state. Stalin expressed excitement about this development, noting that the partnership with Trilliant was valuable. Additionally, Stalin reported having productive discussions with Nike regarding the expansion of footwear production in Chennai and engaging with healthcare firm Optum to develop a talent pipeline in the state. Earlier, Stalin had signed MOUs with Eaton, a multinational power management company, for a Rs 2 billion expansion of their R&D and engineering centre in Chennai. These MOUs were expected to create 500 jobs. He also mentioned a pact with Assurant, a risk management solutions provider, to set up the first Global Capability Centre in the state. During his official visit to the United States, Stalin secured several other agreements. On August 31, 2024, an agreement was signed with Ohmium to establish a factory in Chengalpattu district for producing electrolysers and green hydrogen, with an investment of Rs 4 billion and the creation of 500 jobs. Stalin described this deal as a crucial step toward fostering a green energy ecosystem and promoting sustainability. On August 30, 2024, Stalin held meetings with senior officials from Apple, Google, and Microsoft to invite them to invest in Tamil Nadu and signed an MoU with Google to set up artificial intelligence (AI) labs in the state. Furthermore, on August 29, 2024, during an investors' conference in San Francisco, Stalin oversaw the signing of MOUs with six prominent global companies Nokia, PayPal, Yield Engineering Services, Microchip, Infinx Healthcare, and Applied Materials committing Rs 9 billion and creating 4,100 job opportunities.

Infrastructure Urban

13 Oct 2025

Daikin Boosts Haryana’s Innovation Push with Rs 10 billion R&D Plan

Japanese multinational Daikin Industries has committed an investment of Rs 10 billion to set up a new research and development centre in Haryana. The proposed facility will focus on advanced technologies and sustainable industrial solutions, marking a significant boost to the state’s innovation and industrial ecosystem. The announcement follows the signing of a Memorandum of Understanding (MoU) in Osaka, Japan, during a visit by a Haryana government delegation held from October 6 to 8. The MoU was signed by Amit Kumar Agrawal, Commissioner and Secretary, Industries and Commerce Department, ..

Building Material

13 Oct 2025

Lloyds Metals to Build Rs 250 billion Steel Plant in Gadchiroli

Lloyds Metals & Energy Limited (LMEL) has announced an investment of Rs 250 billion aimed at transforming Gadchiroli in Maharashtra from a region once associated with the red corridor into a key industrial and growth hub. The company’s plans are centred on establishing an integrated steel production ecosystem, which will contribute significantly to regional development and employment. As part of its expansion strategy, LMEL is setting up a 4.5-million-tonne blast furnace in Gadchiroli, scheduled for completion by 2027–28, along with another 1.2-million-tonne facility in Chandrapur by 2029..

Infrastructure Urban

13 Oct 2025

UPI Crosses 500 Million Users, Fuels MSME and Digital Growth

The Unified Payments Interface (UPI) has achieved a new milestone, surpassing 500 million consumers and 65 million merchants across India. The platform, developed by the National Payments Corporation of India (NPCI), has expanded its reach to nearly 99 percent of the country’s pin codes, underlining its deep penetration into both urban and rural markets. According to a report by NPCI and the Boston Consulting Group (BCG) launched during the Global Fintech Fest 2025, UPI has evolved from being a digital payments mechanism into a key enabler of financial inclusion and small business growth. I..