To attract investments from large and small players and to spread the industrial activities throughout the State, the Finance Minister O. Panneerselvam announced conducting Global Investors Meet (GIM), special package for development of land for industrial purposes and a scheme for formation of 10 clusters for micro industries.
The announcements were made by Mr. Panneerselvam while presenting the State budget for 2014-15 on Thursday. It was greeted by the trade bodies and the Micro, Small and Medium Enterprises (MSME).
Since May 2011, the State government has attracted investment of Rs.10,660 crore and provided employment to over 10,000 people. It now plans to hold GIM in October in Chennai to further promote growth of industry and infrastructure in the State, for which Rs.100 crore has been provided in the budget.
Madras Chamber of Commerce and Industry secretary general K. Saraswathi said if Tamil Nadu does it on a regular basis, the southern districts in the State will get the much needed boost. Creating enabling industrial environment was the need of the hour. Confederation of Indian Industry-TN chairman, Narayan Sethuramon said: “It is a great initiative taken by the Chief Minister Jayalalithaa. It will showcase Tamil Nadu as a favourable destination for different type of sectors.”
The formation of a special purpose vehicle to implement Madurai-Tuticorin Industrial Corridor, a recommendation of CII would go a long way in bringing more investment into the region and create employment opportunities, said CII Southern Region Chairman B. Santhanam.
Southern India Chamber of Commerce and Industry president Jawahar Vadivelu said the government’s announcement of setting up of a green energy corridor with an outlay of Rs.1,593 crore for evacuation of wind power is in the right direction and would prove to be strategic in making the Tamil Nadu a power surplus state.
Tamil Nadu Small and Tiny Industries Association president K. Gopalakrishnan welcomed the allocation of Rs.50 crore under the Cluster Development Approach for creating industrial estates for MSME sector.