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“New industrial policy evolved after wide consultations”

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DISCUSSING A POINT: Chairman of Caparo Group Lord Swraj Paul presenting a book signed by British Prime Minister Gordon Brown to Chief Minister M. Karunanidhi at Sriperumbudur on Thursday. CEO of Caparo Group Angad Paul is in the picture.
DISCUSSING A POINT: Chairman of Caparo Group Lord Swraj Paul presenting a book signed by British Prime Minister Gordon Brown to Chief Minister M. Karunanidhi at Sriperumbudur on Thursday. CEO of Caparo Group Angad Paul is in the picture.

N. Ravi Kumar and Ananth Krishnan

It will address the concerns of all stakeholders, says Karunanidhi

SRIPERUMBUDUR: The new industrial policy of Tamil Nadu, to be released soon, seeks to address the concerns of all stakeholders and pave the way for further industrial development, Chief Minister M. Karunanidhi said on Thursday.

He was inaugurating the manufacturing facilities of Caparo India, a part of the Caparo Group founded by Lord Swraj Paul, in Sriperumbudur, around 44 km to the west of Chennai.

Pointing out that the new policy had been evolved after a wide consultative process, Mr. Karunanidhi said suggestions made by industry associations and captains of industry during the meeting of the Industrial Task Force, under his chairmanship, had also been taken into consideration.

“Our focus would be on providing world class infrastructure to meet the growing needs of the industry,” he said.

Road infrastructure was being improved, he said, adding that the State Government with the Centre and the National Highways Authority of India was taking up the six-laning of the Koyambedu-Maduravoyal-Sunkuvarchatram Highway. This project would provide better connectivity.

The Chief Minister urged new industrial units such as Caparo to give preference to locals in employment. He said, “It is our fervent hope that the developments in this area match the expectations of the local people. They are keen to be a part of the success story and hope to benefit from the new employment opportunities in these facilities."

Congratulating Caparo for its speedy implementation of the Sriperumbudur project, Mr. Karunanidhi said the Group, in line with the State Government’s emphasis on taking industrial development to backward areas, was putting up a unit at Nilakkotai, Dindigul district. The State Industries Promotion Corporation of Tamil Nadu (SIPCOT) allotted 20 acres of land required for the project. “I congratulate Caparo for taking this initiative. The government will extend necessary support to such initiatives."

Mr. Karunanidhi said since May 2006, memoranda of understandings had been signed with 11 companies, including Caparo, for a total investment of Rs.11,083 crore.

The 11 projects were expected to provide employment to about 1.25 lakh people. While the projects of Samsung and Dell had gone on stream, those of Motorola in Sriperumbudur would commence production in about a month.

Caparo Group chairman Lord Paul appreciated the assistance of bureaucrats in Tamil Nadu. “It is nice to see an attitude [among them] of how things can be done.”

Caparo Group CEO and Caparo India Chairman Angad Paul said the inaugural function was a simple start to the investment plans of the Group for Tamil Nadu.

British Deputy High Commissioner Mike Connor said the setting up of Caparo’s facilities was a reflection of the growing UK-India trade relationship.

Sunil Pahilajani, managing director of Caparo India, read out a message sent by the Union Finance Minister P.Chidambaram on the occasion. Mr.Pahilajani detailed the Indian operations of the Group.

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