"TN will be a favourable destination for different sectors"

To attract investments from large and small players and spread the industrial activities throughout the State, the Finance Minister O. Panneerselvam has announced conducting Global Investors Meet (GIM), a special package for development of land for industrial purposes and a scheme for formation of 10 clusters for micro industries.

Mr. Panneerselvam was presenting the State budget for 2014-15 in the Assembly on Thursday. It was greeted by the trade bodies and the Micro, Small and Medium Enterprises (MSME).

Since May 2011, the State had attracted investment of Rs.10,660 crore and provided employment to over 10,000 people. It was now planning to hold GIM in October in Chennai to further promote growth of industry and infrastructure in the State, for which Rs.100 crore had been provided in the budget.

Madras Chamber of Commerce and Industry secretary general K. Saraswathi said, “If the State does it on a regular basis, the southern districts will get the much-needed boost. Creating an enabling industrial environment is the need of the hour.”

Confederation of Indian Industry-TN chairman Narayan Sethuramon said: “It is a great initiative taken by 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 the Madurai-Tuticorin Industrial Corridor, a recommendation of the CII, would go a long way in bringing more investment into the region and creating 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 was 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.

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