Tamil Nadu has recorded a conversion rate of 73.53 per cent for Memoranda of Understanding (MoUs) signed since 2021, underlining the State’s ability to translate investment commitments into on-ground execution, the Chief Minister M K Stalin announced at the Conversion Conclave 2026 on Thursday.
Since the incumbent government assumed office in 2021, a total of 1,179 MoUs have been signed, representing cumulative investment commitments of ₹12.37 lakh crore and the potential creation of 36.52 lakh jobs. Of these, 867 projects are in advanced stages of implementation, while 35.11 per cent have already commenced operations.
“This data addresses questions on MoU conversion and demonstrates our focus on outcomes rather than announcements,” the Chief Minister said, highlighting the government’s emphasis on speed, facilitation and accountability.
The Chief Minister cited multiple examples to demonstrate accelerated project execution enabled by the State’s Single Window and Fast Clearance mechanisms. The Phoenix–Kothari Footwear Project in Perambalur moved from foundation stone laying to inauguration within 12 months. Similarly, the MoU with VinFast was signed in January 2024, the foundation stone was laid the following month, and the project was launched by August 2025. Tata–JLR commenced work in September 2024, with the vehicle unveiled this week.
Industries Minister T.R.B. Rajaa presented a detailed investment scorecard, noting that 18 investment conclaves were organised over the past five years across Tamil Nadu and key international locations, including Dubai and the United States. These conclaves resulted in 1,130 MoUs with committed investments of ₹10.43 lakh crore and projected employment of 33.30 lakh persons.
For MoUs signed during the Chief Minister’s overseas visits, Rajaa said the conversion rate stood at 69.56 per cent, with 26.08% of projects already operational. Of the 69 MoUs signed abroad, 48 have progressed to advanced stages of implementation.
The investment momentum has translated into strong economic outcomes. Tamil Nadu recorded 11.19 per cent GSDP growth in FY25, a four-year average manufacturing growth of 9.38%, and 14.74% manufacturing growth in a single year. Electronics exports grew 36 per cent over five years, per capita income rose 36 per cent in four years, and exports touched $52.07 billion, doubling within a year.
Job creation remains a central pillar of the State’s investment strategy. MoUs signed since 2021 have generated 36.52 lakh jobs, while EPFO data shows 29.63 lakh net additions during the same period, corroborating the State’s employment figures.
Rajaa emphasised that the “Dravidian model” prioritises inclusive and geographically distributed growth. While 24 SIPCOT industrial parks were created between 1971 and 2021, the State has added 30 new SIPCOTs between 2021 and 2026, acquiring over 16,029 acres. Emerging focus sectors include footwear, shipbuilding, life sciences, semiconductors, aerospace and defence, and Global Capability Centres.