M K Stalin, the chief minister of Tamil Nadu, laid the foundation stone for the construction of a Fintech City and a Fintech tower, which together are anticipated to provide about 90,000 job possibilities.
Stalin emphasised the government’s interest on this industry by recalling the release of the Tamil Nadu Fintech Policy 2021, which provides a variety of incentives to investors in an effort to turn the state into a hub for the industry on a worldwide scale.
The CM stated during the inauguration that the Fintech City will have cutting-edge infrastructure to accommodate both domestic and foreign businesses.
“We have allotted 56 acres at Nandambakkam in the city. This (initiative) will attract Rs 12,000 crore investments in the Fintech sector and job opportunities for 80,000 persons will be created,” he said.
Further, the proposed FinTech Tower will be a 5.6 lakh sq ft. facility which will attract Rs 1,000 crore investment and create 7,000 jobs, the CM said.
“To put it shortly, this Fintech City will act as the centre of next generation financial services and related activities,” he said.
