In a bid to enhance its brand visibility and promote itself as a preferred investment destination, Tamil Nadu is organising a global investor meet in May this year.
04 Mar 2015 | 4868 Views | By Kiran Bajad
Tamil Nadu, which contributes close to 30 percent of the country’s automobile and auto ancillaries sector, 17 percent to the truck segment, 20 percent each to the passenger car and two-wheeler segments and 10 percent to India’s industrial output, is looking to actively promote itself as a preferred destination for ...
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Tamil Nadu, which contributes close to 30 percent of the country’s automobile and auto ancillaries sector, 17 percent to the truck segment, 20 percent each to the passenger car and two-wheeler segments and 10 percent to India’s industrial output, is looking to actively promote itself as a preferred destination for manufacturing hub not just in India but in Asia. This effort comes even as an aggressive Gujarat is driving new gains in the automotive sector.
Tamil Nadu, which has the highest number of manufacturing units and industrial workers in the country as well as availability of skill industrial workers, ranks third in attracting foreign direct investment inflow followed by Maharashtra and National Capital Region.
Outlining the state government’s vision at the sixth Tamil Nadu manufacturing summit today, C V Sankar, additional chief secretary (industries), government of Tamil Nadu, said, “The state government is doing everything possible to not just attract investment but provide the right business environment to investors and enhance ease of doing business.”
He said the Chennai-Bangalore industrial corridor, where a large number of companies are expected to set up operations, will take manufacturing to a higher level similarly like the Delhi-Mumbai industrial corridor.
Tamil Nadu’s Vision Document 2023 has identified around 270 specific projects and around 60 are in implementation stage. This will involve a considerable amount of investment but the state government plans to secure more funding from the central government and the private sector with the thrust on a public-private partnership model.
In a bid to enhance its brand visibility and promote itself as a preferred investment destination, Tamil Nadu is organising a global investor meet in May this year. According to N Kumar, past president, Confederation of Indian Industry and vice-chairman, Sanmar Group, for Tamil Nadu to become a leading manufacturing hub in Asia it needs to focus on five areas including enhancing the ease of doing business, strengthen skills development, provide international linkages, ensure its manufacturing and industrial footprint across the state and support existing industries.