The second edition of Global Investors’ Meet (GIM) in Tamil Nadu is expected to attract investment of ₹20,000 crore from Gujarat. The industrial city of Coimbatore should strive for a similar volume of investment, Minister for Industries, Steel Control and Special Initiatives, M.C. Sampath said here on Sunday.
Stating that companies from Gujarat have conveyed their readiness to invest ₹20,000 crore in the State, a Memorandum of Understanding (MoU) of which will be signed at the GIM to be held in Chennai on January 23 and 24, 2019, Mr. Sampath said that the diverse industrial sectors in Coimbatore have all the potential to invest on a par with Gujarat.
“Factors like availability of skilled manpower and low cost of production are advantages of Tamil Nadu in attracting investments. Tamil Nadu Business Facilitation Act, 2017, has brought ease of doing business in the State. Our aim is to become one of the 10 top manufacturing hubs in the world and the top in automotive sector,” said Mr. Sampath at a road show of GIM held here.
The Minister said that GIM 2019 is expected to have more investments in 12 sectors including textiles and apparel, automobiles and auto components, agro and food processing, aerospace and defence, pharmaceuticals and biotech, chemicals and petrochemicals, renewable energy, and IT and IT enabled services.
Minister for Municipal Administration and Rural Development S.P. Velumani said the second edition of GIM is expected cross ₹2.4 lakh crore of investment which it had in the first edition.
As many as 98 MoUs were signed at the first edition of GIM in 2015 and 68 companies have started works.
“To boost the industrial sector, we have taken efforts to extend the Mumbai-Bengaluru industrial corridor up to Coimbatore. We have sought the Centre to include Coimbatore in the project which will turn it into one of the10 world class cities in the country,” said Mr. Velumani.
Minister for Rural Industries P. Benjamin said that the Single Window Portal of the Government has helped MSME do hassle-free business as renewal of approvals from 11 departments and 37 services can be done online.
K. Gnanadesikan, Additional Chief Secretary-Industries, M. Velmurugan, Executive Vice Chairman of Investment Promotion, Industrial Guidance and Export Promotion Bureau, Dharmendra Pratap Yadav, Secretary to the Government, MSME Department, Rajendra Kumar, Principal Chief Secretary, Industries Commissioner and Director of Industries and Commerce, District Collector T.N. Hariharan, MLA Amman A. Arjunan, M. Ponnuswami, Chairman of CII Tamil Nadu, M. Ramesh, Chairman of CII Coimbatore Zone and R. Ramamurthy, president of Codissia, were present at the road show.
