Chennai: Winding up his official visit to the US to seek industrial investments, Chief Minister M K Stalin oversaw his government signing a Memorandum of Understanding (MoU) with Rapid Global Business Solution, Inc, (RGBSI) for establishing an advanced electronics and telematics manufacturing unit in Hosur with an investment of Rs 100 crore, at Chicago on Thursday.
RGBSI, having its corporate headquarters in Troy, Michigan, is a company that provides workforce management, engineering, quality lifecycle management and IT solutions to various industries, besides offering advanced electronics and technological solutions to multiple sectors.
The MoU was a continuation of the efforts made by the Chief Minister to invite companies in the US to invest in Tamil Nadu with a view to generating more jobs for its youth and also to realize the dream of turning the State into a ‘US $ 1 trillion economy’ by 2030.
The State has been consistently attracting significant private and public sector investments in production and infrastructure development to promote industrial growth, making Tamil Nadu one of the country's largest production hubs and a knowledge-driven economy.
It has also emerged as the leading State in the country in terms of gross enrolment in higher education and has developed a highly skilled and versatile workforce as various initiatives are being taken to attract large-scale investments and provide employment opportunities to lakhs of youth.
Since the State required significant investments in not just manufacturing and service sectors but also in sectors driven by technology and capital, which offer large-scale employment opportunities, Stalin undertook the official tour of the USA to attract industrial investments.
During the visit, in San Francisco and Chicago, MoUs amounting to Rs 7,516 crore were signed with 17 leading global companies and the Chief Minister also met top executives of several leading global companies and invited them to invest in the State.
