The Tamil Nadu Government plans to attract Rs. 1 lakh crore investment in the State through its Global Investor Meet 2015, Industries Minister P. Thangamani said here on Saturday while launching the first road show in the State. The investor meet will be held in Chennai on May 23 and 24.
Addressing industrialists here, he appealed that they should least invest Rs. 20,000 crore of the targeted Rs. 1 lakh crore as there was single-window clearance system with follow-up action facility, good infrastructure and safe industrial climate in the State.
The Rs. 20,000-crore investment could be in textiles and engineering, but the industrialists were also welcome to explore areas such as infrastructure.
Growth average
The State’s growth average at 7.29 per cent was much more than the 4.74 per cent national average, Mr. Thangamani said and pointed that the Rs. 52,000-crore investment the State had seen in the last five years had put it on top on list of the most-preferred investment destinations in India.
The Government had earmarked 12 areas to be focussed during the meet – textiles, biotechnology, infrastructure, food processing, aero space, petro chemical, and automobile among others.
Additional Chief Secretary, Industries, C.V. Sankar said that the Government planned to improve road connectivity between Coimbatore and Salem, and Coimbatore and Thoothukudi through Madurai.
It was also looking into Coimbatore’s demand for expanding the airport.
Reduce VAT
Chairman of Confederation of Indian Industry – Tamil Nadu, Ravi Sam appealed to the Government to reduce the VAT on yarn from five per cent to two per cent and provide necessary relief to sugar industries.
Rajshree Pathy, chairperson, CII Southern Region, K.V. Srinivasan, chairman, CII Coimbatore Zone, Municipal Administration Minister S.P. Velumani and vice-chairperson, CII Coimbatore Zone, Nethra J.S. Kumar also spoke on the occasion.
Textiles, biotechnology, infrastructure, food processing, aero space, petro chemical, and automobile will be focus areas during the meet
