The Hindu Business Line : Southern districts to get direct benefits from incentive package

Madurai, May 18 The special incentive package announced by the Government of Tamil Nadu to investors setting up projects in nine southern districts will help enhance the industrialisation process in the region, according to Mr R. Dinesh, Chairman, Confederation of Indian Industry (CII), Madurai Zone.

Welcoming the announcement, he said in a statement here that the southern districts have not had direct benefits so far and the package on value added tax (VAT) and Central sales tax (CST) will help attract more investments from overseas and other parts of India.

Drawing the attention to the report brought out earlier by CII, namely, Southern Prosperity through Enhanced Economic Development (SPEED), highlighting the advantages that the southern districts enjoyed, he expressed his hope that the initiative will accelerate the process of industrialisation.

The focus on the development of Madurai-Tuticorin corridor, the airports at Madurai and Tuticorin, and the linking of Madurai-Tuticorin and Madurai-Tirunelveli are steps in particular that would support the industry, he said. The Government should frame the new IT policy in such a way as to help the companies look at investments in tier-II and tier-III cities and motivate local entrepreneurs, he urged.

Manpower pool

Observing that the move by the Government of Tamil Nadu is poised to provide 50,000 jobs in various sectors in the next five years, generating an income of 3,000-4,000 crore to the local economy, Mr Bharath KS, Vice Chairman, CII Madurai Zone, said that the prospective companies should utilise the manpower from the abundant talent pool available in the region.

Lauding the Government for an excellent infrastructural policy that would help the overall development of industries in the hinterland, Mr V. Ramasubramanian, Chairman, CII Tuticorin District, added that the emphasis on improving the efficiency of the Tuticorin Port through mechanisation and deepening of the draught would help the entry of large ships to the port.

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Southern districts to get direct benefits from incentive package