The Hindu Business Line : `Coimbatore must attract big cos'

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Coimbatore March 4 Though Coimbatore is emerging as an ideal investment destination, it needs to attract bigger and renowned companies to trigger the growth potential, Mr M. Velmurugan, Director - Guidance Bureau, Industries Department, Government of Tamil Nadu, said.

Delivering the keynote address at a CII organised function to mark the release of `Destination Coimbatore - A Fact File', Mr Velmurugan said the department was in talks with a number of investors, who had evinced keen interest in setting up projects in Coimbatore region.

Lauding the CII for its efforts in releasing the Coimbatore Fact File, he said ` competition is strong today even among districts for luring investors. The fussy investor seeks enormous amount of information. Fact File, such as the one released by CII, would go a long way in bridging the gap by furnishing the kind of information investors seek,' he said and pointed out that the State /region would tend to lose investments/projects for want of information.

Highlighting the Centre for Monitoring Indian Economy (CMIE) review, Mr Velmurugan said, "82 projects are expected to come up in this district with an estimated investment of Rs 7,352 crore. Some of these have been announced but not implemented yet, some in the implementation stage and a few others nearing completion. They encompass infrastructure projects, textiles, auto components and engineering in the manufacturing space. Investments have been made by Indian companies, foreign and some joint ventures as well."

Emphasising the need for a `large' industrial park in this region, Mr Velmurugan said `this could draw large companies to establish their presence here.'

According to him, roadshows are not enough for marketing the State. `The investment climate has to be conducive and the information sought by the investor readily available.'

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