Third Intellectual Property Office in country inaugurated Kamal Nath said the Chennai IPO was the third such facility to be opened in the past four months
CHENNAI: The Centre has sanctioned 430 acres of salt land in Kancheepuram district to set up a maritime complex and four information technology complexes. The facilities will be established by the Union Ministry of Shipping and the Union Ministry of Communications respectively.
Announcing this here on Saturday at the inauguration of the Intellectual Property Office, Union Minister of Commerce and Industry Kamal Nath said the land was located 28 km from Chennai.
He told press persons at the end of the meeting attended by Union Minister of Shipping, Road Transport and Highways T.R. Baalu and Union Minister of Communications and IT Dayanidhi Maran, that the order sanctioning the land was passed on Friday. The maritime complex will be named after late Union Minister of Commerce Murasoli Maran. It will house a host of facilities on about 310 acres. The IT complexes would come up on 110 acres. He also agreed to Mr. Baalu's demand to name the IPO after Murasoli Maran.
Mr. Nath said the Chennai IPO was the third such facility - the others were in New Delhi and Kolkata - to be opened in the past four months. Underlining the significance of IPOs, the Minister said India's engagement with the global economy was poised to move up from the existing $350 billion to $500 billion in three years.
India was "undergoing a great change" in terms of attracting investments, he said pointing out that large investments were coming into Tamil Nadu. The State was on the radar of investors across the world. Attributing the faith reposed by investors in India to the initiatives taken by the Centre, he said the country was graduating from being a user of Intellectual Property to an IP producer.
Mr. Maran said research and development was a powerful driver in sustaining long-term sustainability of enterprises. Mr. Baalu recalled the contributions made by Murasoli Maran to shaping global trade and called for efforts to create public awareness on IP rights.
The Union Minister of State for Commerce and Industry, E.V.K.S. Elangovan, said the presence of 12 Ministers from Tamil Nadu in the Union Cabinet was a golden opportunity for the State to get development projects.
The State Government, he alleged, was instead blocking some projects sanctioned by the Centre such as a railway line from Samaraj Nagar to Sathiyamangalam by refusing permission on environmental grounds for an 11-km stretch passing through a forest.
The Joint Secretary to the Commerce Ministry, N.M. Prasad, said the IPO in Mumbai would be opened next month.