Industry & Economy
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Economy
`Southern States have an edge in luring investors'
Our Bureau
Kochi
,
Aug. 8
SOUTHERN States have better chances of attracting higher investments from domestic and overseas industries and thereby becoming a role model for States in other parts of the country, Mr Mahendra K. Sanghi, President of Assocham, has said.
He pointed out that the political and bureaucratic system in the southern Peninsula is more responsive to the needs and requirements of modern businesses and therefore it assumes potential exploration of larger business opportunities from the business communities. "This phenomenon, however, is not available in the rest of the country," he added.
The Assocham President, who was here in connection with the AGM of Cochin Chamber of Commerce and Industry, told reporters that Kerala, Tamil Nadu, Andhra and Karnataka would become preferred destination for future business investments because of host of reasons such as good opportunity cost, conducive environment, competitive labour force etc.
The availability of raw materials and inputs needed in manufacturing could also be easily made available in the southern part because of geographical reasons.
However, the major hitches are infrastructure, which can always be improved, and state levies, which need a rationalisation, he said. Mr Sanghi, therefore, sought privatisation and corporatisation of Government-owned civic amenities sectors.
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