Quick approvals, infra development hold key to attracting investments

“It is speed that matters,” YC Deveshwar, Chairman, ITC Group, said when asked what factor impacts investment decisions.

Deveshwar’s comment on timely project approvals was a point that was echoed by others at the meet.

Time-bound approvals and physical infrastructure development that can cope with growth are decisive factors to attract investments, industrialists said.

The ITC Group plans to invest more than ₹2,500 crore in Tamil Nadu over the next couple of years. Investments will go into hospitality, food processing and warehousing, he said in an informal chat with BusinessLine on the sidelines of the meet.

Single window Steffen Berns, President and Country Head, Bosch India, participating in a panel discussion said, “there are too many periodic approvals needed even after inauguration of a plant."

Systems and processes should make life easier, Berns asserted.

With Tamil Nadu consolidating its position as a manufacturing hub, more physical infrastructure such as roads, rail, water supply and energy are needed. Public transport has to be strengthened, he said.

Yang Woo Nam, Managing Director, Visteon Automotive Systems, said while the overall experience is positive in the State, investors have greater expectations. Infrastructure development across roads, port, rail and public transport needs to pick up, he said. Tax environment has to be simplified, he said.

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