Tamil Nadu

Land available for data parks, says Panneerselvam

Deputy Chief Minister is on an official visit to the U.S.

Over 8,000 acres are readily available in various industrial parks across Tamil Nadu for the setting up of IT establishments and data parks, according to Deputy Chief Minister O. Panneerselvam.

Addressing a meeting organised by the Indian American Business Coalition in Chicago on Tuesday, Mr. Panneerselvam, who is on an official visit to the United States, drove home the point that the State was “ideally suited” for further growth in the technology space, given “three submarine cables landing in Chennai with 14.8 TBPS of bandwidth, surplus power availability, and high quality human resources.”

There were many opportunities for investment in the construction and real estate businesses as well.

The present government sought to “further improve” the State’s investment climate and accelerate industrial development through targeted sectoral policies.

Acknowledging that prospective investors may not have the time, local knowledge and expertise to correctly identify investment opportunities, Mr. Panneerselvam, who received a few awards during his stay in Chicago, said the State government, with a view to addressing the issue, had sponsored two alternative investment funds — Tamil Nadu Investment Fund and Tamil Nadu Shelter Fund — registered with the Securities and Exchange Board of India.

“Many of you present here can invest in TNIF or TNSF directly or through an institution,” he said.

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Printable version | Jul 5, 2020 7:31:14 AM | https://www.thehindu.com/news/national/tamil-nadu/land-available-for-data-parks-says-panneerselvam/article29966735.ece

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