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“India, a preferred destination for FDI”

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Grand start:Nicolas Beaumont, Managing Director, Michelin India Tamilnadu Tyres, lighting a lamp to inaugurate the 'Pragyan 2010' at
Grand start:Nicolas Beaumont, Managing Director, Michelin India Tamilnadu Tyres, lighting a lamp to inaugurate the 'Pragyan 2010' at

Staff Reporter

TIRUCHI: India's adaptation of its academic, infrastructure and industrial systems to world standards has been amazing, according to Nicolas Beaumont, Managing Director, Michelin India Tamil Nadu Tyres Pvt. Ltd.

Acquisitions of Jaguar by TATA and Arcelor by Mittal is a reflection of pace of India's economic progress and the esteem with which the country is held the world over, Mr. Nicolas said addressing the inaugural of Pragyan 2010 at National Institute of Technology - Tiruchi on Thursday.

India, a preferred destination for foreign direct investment owing to clarity of its industrial policy, has begun to manufacture products for itself and the rest of the world, he said. Mr. Nicolas had a special word of praise for Tamil Nadu's industry-friendly policy.

While the primary contributor to Indian economy was the IT industry, the second determiner was the growth of manufacturing sector driven by automotive industry. Foreign companies establishing bases in India were sourcing manpower for their facilities all over the world owing to the quality of the Indian education system. India, a tough competitor to the developed world, was getting stronger, he said.

Presiding over, N. Ammasai Gounden, Dean - Industrial Consultancy and Sponsored Research, said Pragyan was a forum to innovate and put ideas to practice. Teachers have been gaining exposure from Pragyan, he said.

S. Kumanan, Dean - students' Welfare, said Pragyan has gained international stature with its challenging events. This time, the host institution, which bagged the overall medal for the past two years consecutively, will not be in the reckoning for the top honour. The next best team will be accorded the honour, he said.

S.P. Kumaresh Babu, Staff Advisor, Pragyan '10; Abhinav Ravikumar, and Shankar Ganapathy, Overall Coordinator, also deliberated on the uniqueness of the technical festival.

The inaugural session culminated with an enthralling Sand Animation show by Amar Sen, one of India's premier entertainer. The infotainment contained social messages including the meaninglessness of war and the imperative need to save tigers.

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