CHENNAI: In a bid to put an end to persistent criticism from the opposition parties that the Memoranda of Understanding (MoUs) signed by the DMK government have failed to transform into actual investments, Chief Minister MK Stalin, amid glowing tributes from global industry leaders, on Thursday showcased that 73.5% of the MoUs signed since 2021 have moved into execution.
Addressing the first-of-its-kind Conversion Conclave 2026 organised in Chennai, with elections around the corner, Stalin cited the state’s achievements under the ‘Dravidian Model’ and said, “This data is for all those who have been asking questions about the conversion of MoUs,” adding that the commitments have turned into factories, jobs and production.
Industries Minister TRB Rajaa presented a scorecard of the state’s investment performance since DMK returned to power in 2021 in the middle of the second wave of Covid-19.
According to the data, TN signed 1,179 MoUs, involving a total committed investment of Rs 12.37 lakh crore and a projected employment for 36.52 lakh people. Of these, 867 are in advanced stages of implementation, with more than a third already operational.
At the event, the CM also laid foundation stones for 71 new projects involving an investment of Rs 36,968 crore, and inaugurated 52 completed projects with an investment of Rs 31,934 crore.
Together, both sets of projects are expected to create 82,664 jobs. He said the conclave was held to demonstrate that the state’s industrial strategy did not end with investor summits or headline-grabbing announcements.
“Our success does not stop with signing MoUs. We follow through until factories are inaugurated and offer letters (for jobs) reach our youth,” he added.
Additionally, two new MoUs were signed, committing Rs 5,000 crore in investment and 5,000 jobs.
