After clinching 98 MoUs involving an investment of around ₹1,66,980 crore in the last 12 months, the State government in 2023 wants to expand its activities to reach its $1-trillion economy target by 2030.
“Besides investment promotion activities, the preparations and road shows for the Global Investor Meet 2024 will be the focal point,” said Pooja Kulkarni, Managing Director and CEO, Guidance. , the nodal agency for investment promotion in the State. “There will be a focused outreach for securing investments. A critical aim is to significantly improve the Ease of Doing Business Ecosystem and reduce regulatory procedures, simplify the processes further,” she said.
In 2022, the number of micro, small and medium enterprise bank accounts went up by over 4.5 lakh. “Data show it was around 24.5 lakh as of September 2021, which crossed the 29-lakh mark in September 2022,” said V. Arun Roy, Secretary, Department of Micro, Small and Medium Enterprises.
Bringing a significant chunk of MSMEs under the formal sector would be a priority. “SIDCO’s innovative initiatives like plug-and-play projects and two industrial housing projects in Coimbatore and Chennai should be completed and we will take up similar projects in other industrial clusters,” he said.
In 2022, the number of registered start-ups were up by 35% and work is on to ensure more start-ups get themselves registered. This would help the government in national ratings and an analysis of startups.
On the information technology front, the State has been embracing technologies such as metaverse, Web 3.0 and blockchain. The IT Department was also renamed as the Department of Information Technology and Digital Services. The department played a crucial role in the e-office project under which all government documents are getting digitised and made available online. In 2023, hosting and organising Asia’s largest technology and innovation summit, Umagine, would also be a priority.
During 2022, it released Research and Development Policy, Life Sciences Promotion Policy, Aerospace and Defence Industrial Policy and Footwear and Leather Products Policy.
Representatives of the industries and chambers of commerce told The Hindu that south Tamil Nadu still remains neglected without proper investments and they wanted the government to address this issue in 2023.
