Tech3 | Tamil Nadu minister woos Tesla; Zerodha's smallcase diversifies; and more

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In today’s newsletter:?

• Tamil Nadu minister woos Elon Musk's Tesla
• Zerodha's smallcase grows beyond stocks
• What to expect from Q3 IT earnings

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Tamil Nadu minister woos Elon Musk's Tesla

Tamil Nadu remains undeterred in its pursuit of Tesla, even as reports suggest that the electric vehicle giant may consider investing in Gujarat.

• In an exclusive interview with us, TN Minister for Industries, Investment Promotions, and Commerce, TRB Rajaa, expressed confidence that Tamil Nadu is the ideal investment destination for Tesla

Tell me more:?47-year-old Rajaa took on the position of Tamil Nadu Industries Minister in May 2023, and the recently concluded Global Investors Meet (GIM) was a significant test of his administrative and organisational prowess.

• The two-day GIM resulted in proposed investments totalling Rs 6.64 lakh crore and the potential creation of 26.9 lakh jobs in the state

If Elon Musk seeks to establish manufacturing operations in a green, clean, and progressive state, Tamil Nadu is the perfect choice, Rajaa said.?

• The state's upcoming policies prioritise diversity, equity, and inclusion, demonstrating a strong commitment to workforce diversity, he added

Battle for investments: Tamil Nadu faces stiff competition from other states like Karnataka, Telangana, Gujarat, Uttar Pradesh, and Maharashtra in attracting industries and investments.?

• The GIM in Tamil Nadu strategically coincides with the Vibrant Gujarat summit scheduled from January 10-12, as both states aim to secure major investments from automobile companies

While conversion rates of promises and Memoranda of Understanding (MoUs) from the previous two GIM events ranged between 15-25%, Industries Minister Rajaa is aiming for a significantly higher conversion rate this year.

More from our GIM coverage:

• Top economists Raghuram Rajan and Arvind Subramanian have different views on achieving Tamil Nadu's trillion dollar economy goal
• Tata Power, Adani Green and Sembcorp announce major investments in energy sector

• Reliance Industries to invest in renewable energy, green hydrogen in Tamil Nadu, says Mukesh Ambani

• Tamil Nadu announces 50% top up to Centre's capex-linked semiconductor subsidy

• Govts should be wary of spending too much in wooing semiconductor fabs, says Chip War author

• No doubt that India is the GCC capital of the world, says SAP Labs India’s Sindhu Gangadharan

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