Confederation of Indian Industry (CII), Coimbatore, will launch here on September 12 a long-term initiative called “Coimbatore NXT” to make the region a vibrant economic destination.
Having worked intensively for a year on the initiative, the CII has drafted a plan with a set of measures that will make Coimbatore visible, virbant, and attractive to skilled human resource and conglomerates across industrial verticals. These measures will be tagged with specific metrics that will be monitored, S. Prashanth, chairman of CII, Coimbatore, told presspersons here on Tuesday.
“We are a tier-two city with capabilities of a tier-one city. The Tamil Nadu government aims to make the State a $ 1 trillion economy by 2030. Coimbatore has to play a disproportionate role for the State to achieve this,” he said.
Detailing the need for Coimbatore NXT, Arjun Prakash, former chairman of CII, Coimbatore, said,“Industrial development in Coimbatore is several decades old with several well established businesses. The industries then had easy access to market, raw materials, cheap power, and manpower. The situation is changing and evolving. There are a lot of new technologies, fields of interest that are emerging among the youth and Coimbatore should provide opportunities for these people.”
The existing industries need to be made future ready and sun rise industries, such as electric vehicles, electronics, and precision engineering, need to be encouraged here, he added.
Mr. Prashanth said the initiative will focus for at least five years on growth of industries, create visibility for the region, and advocacy. It will launch on September 12 a portal, video, presentation on Coimbatore, report of the study done by the CII, and a digital collateral. There will be a Master class in which three Coimbatore-based entrepreneurs who have taken their enterprises to the global platform will address the participants.
Further, 30 companies have come forward to work with CII and develop a vision to scale up and strategies to achieve the vision for their respective organisations.
Mr. Prashanth and Mr. Arjun Prakash also said that the study done by the CII for this project had listed the areas that need to be addressed to enable Coimbatore and its industries realise their full potential. The CII will work with other associations, stakeholders, and the government on these bottlenecks.