Business India News

TN inks MoUs worth over Rs 1 lakh crore

Stalin also laid the foundation stone for 21 industrial projects worth Rs 22,252 crore with a potential of 17,654 jobs…reports Asian Lite News

The makers of green hydrogen, solar cells, lithium ion cells, aerospace component, pumps for ships, electric vehicles (EV), drones, textiles and others were part of 60 companies that signed investment Memoranda of Understanding (MoU) with the Tamil Nadu government on Monday.

In a big boost to the industrialisation of Tamil Nadu government, the 60 MoUs are worth Rs 125,244 crore investments and 74,898 jobs – direct and indirect.

The ACME Green Hydrogen and Chemicals will set up its facilities to make green hydrogen and green ammonia in Tuticorin at an investment of Rs.52,695 crore, said Chief Minister M.K.Stalin.

Stalin, who was present at the MoU signing ceremony Tamil Nadu Investors’ First Port of Call Investment Conclave held here, also inaugurated 12 new industrial projects worth Rs 1,497 crore with a potential of 7,050 jobs.

Stalin also laid the foundation stone for 21 industrial projects worth Rs 22,252 crore with a potential of 17,654 jobs.

Some of the big names that have signed the investment MoUs with Tamil Nadu are Tata Power Ltd, Caterpillar, Mahindra and Mahindra, Amplus (Petronas), Rane Holdings, Voltas, Elgi Sauer, Lucas TVS and others.

Speaking at the function Stalin said 68 per cent of the MoU projects will come up in the Southern region thereby spreading out the industrialisation in the state.

At the event, Stalin also released the Tamil Nadu Life Sciences Promotion Policy-2022 and the Tamil Nadu Research and Development Policy 2022.

Electricity generation company Tata Power has signed a MoU with the government of Tamil Nadu to invest approximately Rs 3,000 crore, for setting up a greenfield 4 gigawatts solar cell and 4 gigawatts solar module manufacturing.

The plant would be set up in Tirunelveli district of Tamil Nadu, an official statement said.

The investment in this project is planned to be made over a period of 16 months, and it hopes to contribute towards the emergence of clean energy, while at the same time, creating employment in the state.

“The investment in the plant will be made over a period of 16 months and will directly or indirectly create over 2,000 employment opportunities with majority of them being women employees,” the statement said.

The MoU was signed by Thiru S. Krishnan, Additional Chief Secretary to Government of Tamil Nadu, Industries Department, and Praveer Sinha, CEO & MD, Tata Power in the presence of Chief Minister of Tamil Nadu during the Investors’ First Port of Call, Investment Conclave 2022.

Tata Power also has a manufacturing unit in Bangalore, which has a production capacity of 635 megawatts of modules and 500 megawatts of cells.

“India has opportunity to spearhead the usage of clean and green energy solutions to meet its energy requirements. Tata Power Solar’s new production facility is being set up with the support and assistance of Tamil Nadu Government, will help to meet the rising demand for clean energy solutions in the country apart from providing huge employment opportunities,” said Praveer Sinha, CEO and MD, Tata Power, while signing the MoU.

Tata Power is one of India’s largest integrated power companies and together with its subsidiaries and jointly controlled entities, has an installed or managed capacity of 13,735 mega watts.

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MoUs signed with private companies for pilot projects for farmers

The federated farmers’ database will be linked to the land records of the farmers from across the country and a unique Farmer ID will be created, the release said…reports Asian Lite News.

The Department of Agriculture and Farmers’ Welfare on Tuesday signed MoUs for pilot projects with CISCO, Ninjacart, Jio Platforms Limited, ITC Limited and NCDEX e-Markets Limited (NeML) for running pilots for various digital services for farmers.

Based on these pilot projects, the farmers will be able to take informed decisions on what crop to grow, what variety of seed to use and what best practices to adopt to maximise the yield. The agriculture supply chain players can plan their procurement and logistics on precise and timely information while the farmers can take informed decisions about whether to sell or store their produce and when and where and what price to sell, a release from the Ministry of Agriculture said.

“Modernisation of the agriculture sector will continue by infusing new technologies so that farmers can increase their income,” Agriculture Minister Narendra Singh Tomar said at the MoU signing ceremony held at Krishi Bhavan, the ministry headquarters.

A ‘Digital Agriculture Mission’ has been initiated for 2021-2025 by the government for projects based on new technologies like artificial intelligence, block chain, remote sensing, GIS technology, use of drones and robots etc.

Establishing a digital ecosystem for agriculture needs to take a long-term view of aspects like interoperability, data governance, data quality, data standards, security and privacy, besides promoting innovation. A significant requirement is adoption of a decentralised, federated architecture that assures autonomy to the service providers and all other actors and ensures interoperability at the same time.

Recognising the importance of digitisation in agriculture, the Department is creating a federated ‘Farmers Database’ and building different services around this database, so as to build a ‘Digital Ecosystems of Agriculture’.

Kashmiri farmers carrying baskets of Strawberries inside their farm during corona curfew , on the outskirts in Srinagar, Kashmir India (Pic from Umar Ganie)

The federated farmers’ database will be linked to the land records of the farmers from across the country and a unique Farmer ID will be created, the release said.

Under this unified database for the farmers, the information of all benefits and supports of various schemes of Central and state governments can be kept and this can be the source for accessing information for providing benefits to the farmers in the future. So far, the database is ready with details of around 5.5 crore farmers.

Union Ministers of State for Agriculture, Kailash Chaudhary, Shobha Karandlaje along with other senior officials were present in the event.

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