Tamil Nadu must not lose its industrial vision

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When the former Tamil Nadu Chief Minister M.K. Stalin gave me the opportunity to serve as the Minister for Industries in his Cabinet, many people said that I was too young and inexperienced for the job. My leader and I did not answer that criticism with words, but we answered it with investments, jobs, new sectors, a stronger global brand for Tamil Nadu, and an industrial vision that matched the scale of our ambition. I know, therefore, that age or inexperience is not a criticism by itself.

However, when a young and inexperienced political party receives a mandate, it has to demonstrate vision and passion. On that test, it is critical that Tamil Nadu does not lose industrial vision.

In governance, vision is the politician’s job. Bureaucrats can and should execute, but the Constitution has given the mandate of setting the road map of growth to the people’s representatives. Thus, elected leaders must set the course on which direction the State must sail towards. If that vision is simply “₹1 lakh crore in MoUs”, that is exactly what the system will produce. Those who have been in governance and appreciate the nuances of governance will understand that this comes out of a clear understanding of the “system”.

The real measure of investment promotion successes is not the quantum of investments. The truly important measures are different. What is the quality of the MoU? How many MoUs will convert? What quality of jobs will be created? Where will these jobs be created? Will investments deepen Tamil Nadu’s value chains? Are we attracting emerging and strategic sectors? It is these questions which will decide the quality of policy outcome.

The recent investment conclave held by the Government of Tamil Nadu showed the problem clearly, beginning with the unusual and mysterious ban on media presence, including the business press, a key pillar of Tamil Nadu’s investment promotion efforts.

Of the 97 companies that the present government claims to have signed MoUs with, at least 63 already have existing investment relationships with Tamil Nadu. These 63 MoUs alone amount to ₹60,349 crore, or 89.3% of the overall claim of this conclave. Hence it is the good work of the Dravidian Model government and probably even some governments before that which have contributed to almost 90% of this conclave’s investments.

The largest MoU announced was reportedly for ₹10,000 crore by Light House Green Data Centre. Netizens have raised serious questions about this company and its capabilities after having a look at Ministry of Corporate Affairs records. An entity incorporated only in February 2026, with a paid-up capital of just ₹1 lakh, signing a ₹10,000 crore MoU is one thing if it sits among a credible list of marquee, anchor investments. Making it the largest MoU by far is quite another. It risks putting Tamil Nadu in the company of States such as Uttar Pradesh and Madhya Pradesh, where MoUs have too often been used to manufacture impressive numbers rather than deliver serious investments.