The ‘Economic Potential of Tirunelveli District Vision 2023’ presenting the growth potential of key sectors that influence the district’s overall economic growth has predicted an investment requirement of Rs. 32,100 crore before 2023 to realise the growth envisioned.
The 86-page document, prepared by Madras Consultancy Group, Chennai, on behalf of the Confederation of Indian Industry, Tuticorin, is an attempt at highlighting the advantages of the district and the progress the district can achieve by 2023 after showcasing the potential for setting up new industries, strengthening infrastructure, healthcare, education, tourism etc. in this region, enjoying a high literacy rate of 82.92 per cent. The study for preparing this document was conducted between July and October 2013.
While most of the infrastructure investments need to be initiated and made by the State Government, the major portion could be under Private Public Partnership or wholly private sector investments, says the vision document. It was released by Rajya Sabha MP S. Muthukaruppan and received by Collector M. Karunakaran in the presence of industrialist Gunasingh Chelladurai and chairman of CII-Tuticorin SKSCN. Dharmaraj.
Being a district with conducive investment climate, the report predicts Tirunelveli’s Net District Domestic Product, now at Rs. 270 billion, to increase likely to Rs. 640 billion in 2023 with the per capita income swelling from the present Rs. 87,200 to Rs. 1.75 lakh.
To achieve this growth, the district requires an investment of over Rs. 1,250 crore between 2013 and 2023 in agriculture and allied sector infrastructure.
The report, while citing official machinery’s failure to attract adequate investment in the Special Economic Zones at Nanguneri and Gangaikondan by ensuring adequate infrastructure facilities, wants the governments to ensure the investment of Rs. 1,500 crore in the industrial infrastructure sector before 2023.
An additional Rs. 250 crore should be invested to improve the tourism industry. The inadequate road, rail and air connectivity that hampers industrial investment in this region has been highlighted in the vision document and the governments are urged to ensure an investment of Rs. 2,800 crore in this connection.
The document says the power sector will be in need of Rs. 20,000 crore to ensure quality power to attract more industrial investments, while an investment of Rs. 1,300 crore will be needed to augment water supply and set up desalination plants. Further, the document envisages the need for an investment of Rs. 1,200 crore in education sector and Rs. 1,400 crore in health sector.
