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Industry is concerned over the uncertain political climate in the State, said Ar Rm Arun, Chairman, FICCI - Tamil Nadu State Council.
The State has earned a reputation for political stability but recent developments have given the industry cause for concern “on the way forward,” he said referring to the infighting in the ruling AIADMK party and the popular perception of instability in the government and the impact on industrial investments.
Industrial areas such as Sri City and Krishnapatnam port in neighbouring Andhra Pradesh are gaining and ports in Chennai and Ennore are losing out, he said.
Solutions to issuesTamil Nadu faces more issues relating to water and transportation apart from communication and power. Ideally, basic necessities like water and transportation should not be an issue. Modern solutions like desalination, recycling and user charge should be utilised to tackle the shortage. Traffic issues can also be addressed through measures like congestion surcharge and improved public transport systems, he said addressing the State Council’s 2nd Executive Committee meeting.
Shilpa Prabhakar, Executive Vice-Chairman, Tamil Nadu Industrial Guidance and Export Promotion Bureau, said the industrial investment momentum was sustained. Since January, the Bureau which is the first point of call for investment applications, has processed over ₹2,000 crore worth investment proposals, including a ₹500-crore investment by Yamaha Musicals.
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