Chamber of commerce to come up with report on recent power tariff revision

MCCI to come out with a handbook on regulatory compliances

September 16, 2022 09:59 pm | Updated 09:59 pm IST - CHENNAI

The Madras Chamber of Commerce and Industry (MCCI) on Friday said it would come up with recommendations on the recent power tariff revision announced by the State government.

Chamber president T.R. Kesavan said: “MCCI had given a recommendation earlier. We are going to re-work on it now. So unless we give a solution to reduce the cost of the system and find out an alternative, they don’t have a choice. So, our report will look at how to optimise and do better so that it helps the government and the consumer.”

Mr. Kesavan pointed out that there was a revenue problem for the government, “but we need to come out with an alternative solution.“

For the coming year, the chamber has picked up some key areas which it would focus on such as Industry 4.0, electric vehicles, fintech, climate change and sustainability, education and skilling, arbitration and encouraging start-ups.

For the skilling part, the chamber recently signed an MoU with Tamil Nadu Skill Development Corporation under the “Naan Mudalvan Scheme”.

“This is one area that we will be concentrating on. Apart from skilling, upskilling and reskilling will be a focus area. The chamber has 12 expert committees and we will use our resources for skilling the youths,” Mr. Kesavan said.

MCCI is working on bringing out a ready reckoner or a handbook for regulatory compliances titled Doing Business in Tamil Nadu by working closely with the government to encourage new investments and maintain a business-friendly climate.

Mr. Kesavan said that Tamil Nadu, in spite of the setback due to the pandemic, was able to recover faster than many other States due to its resilient and robust public health system and concerted efforts. He noted that Gross State Domestic Product (GSDP) of Tamil Nadu bounced back to 14.6% in the financial year 2021-22 and is expected to grow by 14% in the financial year in 2022-23 going by the data.

“The State government has undertaken various initiatives such as allocation of ₹100 crore to improve the infrastructure of export companies, setting up of knowledge city and releasing export promotion strategy to make Tamil Nadu a leader among Indian States in exports,” he said.

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