Investment promotion panel holds first meeting, targets $72 billion in exports

The first meeting of the Tamil Nadu Investment Promotion Commission (TNIPC) was held under the chairmanship of Chief Secretary Sai Kumar, with discussions focusing on the proposed new industrial policy, single-window clearances, progress of investment MoUs, and measures to boost the State’s exports.

During the meeting, the preparatory work for the New Industrial Policy 2027 was reviewed. “Consultations with various stakeholders have been undertaken since July 2026. The existing industrial policies are also being evaluated to identify areas requiring revision and improvement. Directions have been issued to expedite the preparation of the new policy,” a statement issued by the Industries Department said.

There were discussions around the Memoranda of Understanding (MoUs) inked ever since the TVK government came to power. Since May 2026, the government has signed 112 MoUs, representing proposed investments exceeding ₹1.14 lakh crore and the potential to generate employment for 1,32,771 persons. Of these, 83 MoUs have progressed to land allotment and beyond. The overall implementation progress currently stands at 74.11%.

An official release said the commission discussed measures to help Tamil Nadu’s industries leverage the opportunities emerging from India’s Free Trade Agreements (FTAs), expand their international market presence, and increase exports.

The State aims to increase its exports from the present $59 billion to $72 billion. The Commission also issued directions to all departments. It said that all departments must ensure that applications covered under the amended Business Facilitation Act are processed within the mandatory 21-day timeline.

It has said the Tamil Nadu Power Distribution Corporation Limited (TNPDCL) should establish a mechanism to expedite the processing of applications for High Tension (HT) and Extra High Tension (EHT) connections for industrial units. The Commission emphasised the need to conduct export promotion and facilitation meetings at the district level, in addition to State-level meetings. With all these initiatives, Tamil Nadu intends to become a $1.5 trillion economy by 2036.

The Commission was constituted on November 3, 2026, under Section 16 A of the Tamil Nadu Business Facilitation Act, 2018, as amended through the Tamil Nadu Investment Promotion and Facilitation Legislation, 2026. The Commission is chaired by the Chief Secretary, with the Additional Chief Secretary, Industries, Investment Promotion and Commerce Department, serving as its Member Secretary and Convener. It comprises 20 members representing various key government departments, including Finance, Energy, Information Technology, Housing and Urban Development, Transport, Environment, Labour Welfare and Commercial Taxes, among others.

The Commission will provide focused attention to major investment proposals involving investments of ₹200 crore and above, projects generating 5,000 or more employment opportunities, and projects requiring inter departmental coordination for expeditious implementation. It will also facilitate the opportunities arising from India’s Free Trade Agreements (FTAs).