Comments
Tamil Nadu Chief Minister J Jayalalithaa on Wednesday assured investors that project clearances will be expedited in a time bound manner.
Addressing leading industrialists, foreign delegates and diplomats at the inaugural of the Global Investors Meet 2015, Jayalalithaa said she has ordered that for investment commitments “final clearances shall be accorded within 30 days.”
Tamil Nadu has worked hard on improving the investment climate and has designed the Tamil Nadu Investment Promotion Programme with the assistance of the Japan International Co-operation Agency. It aligns the State Government’s policy priorities and the expectations of investors.
The Prime Minister Narendra Modi has spearheaded many initiatives to create an investor friendly climate and encourage Foreign Direct Investment. This will also enthuse investors planning to invest in the States, the Chief Minister said.
She also urged the Union Minister of State for Commerce and Industry, Nirmala Sitharaman, and Minister of State for Road Transport, Highways and Shipping, Pon Radhakrishnan, to expedite clearances to projects announced at the GIM 2015 and support infrastructure development.
She assured investors that “It is an investment in the hard working, enterprising and reliable people of the State of Tamil Nadu.”
Sitharaman said the Centre was taking steps to enhance ease of doing business by cutting down on multiple prior permissions for projects. Large industrial corridor projects such as the Chennai-Bengaluru Industrial Corridor and the East Coast Economic Corridor linking Kolkata-Chennai-Tuticorin are being expedited. In principle approval has been given for the Hosur Engineering Cluster. The Government is committed to clearing all road blocks to investment, she said.
Radhakrishnan said port infrastructure will be further strengthened with the development of the Colachel Port in south Tamil Nadu as a transhipment hub.
GIM 2015 is a two-day meet organised by the State Government to showcase the State to the international investment community. Over 5,000 delegates, including 1,000 from abroad, are participating in the event which includes 24 seminars on a range of industries. Delegations from eight partner countries — Australia, Canada, France, Italy, Japan, Korea, Singapore and the UK — are also making presentations. Over 300 stalls have also been put up by domestic and multinational companies.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.