Economy

Coimbatore industry bodies hail CM’s move to set up investment zones

R Yegya Narayanan Coimbatore | Updated on March 13, 2018

E K Ponnuswamy, President, CODISSIA. File Photo.

Industry associations in Coimbatore have welcomed the slew of announcements made by the Chief Minister J Jayalalithaa like establishment of a National Investment and Manufacturing Zone (NIMZ) and scheme for skill development as these would propel industrial activity in the state.

The industry here has also pitched for the formation of a NIMZ at Coimbatore since the district is already industrially developed.

In a statement, the Coimbatore District Small Industries' Association (Codissia) President E K Ponnuswamy said the Chief Minister’s announcement of promotion of bio park III at Coimbatore over a 10-acre area at an investment of Rs 55 crore, providing direct employment to 500 scientists and indirect employment to an equal number of people, would give a boost to the development of the region.

Referring to the announcement of the Chief Minister that registration of new industries under the Factories Act and the issue of licences/renewals would be done online he said this would simplify the process involved. This was particularly beneficial to the long-term growth of MSMEs as they could complete the formalities faster. The creation of a web portal for this purpose would also enable the people to know about the Government schemes. The move to establish five more ITIs would lead to the availability of more skilled people for employment, he said.

D Nandakumar, President, the Indian Chamber of Commerce and Industry, Coimbatore (ICCIC), said the slew of steps announced by the Chief Minister like the establishment of NIMZ in Ramanathapuram district at an investment of Rs 6,525 crore, a medical park near Chengalpattu and a TICEL Bio-Park in Coimbatore at the cost of Rs 55 crore would all give a boost to manufacturing and services activities in the State.

However, he pointed out that ICCIC had represented to the Central and State Governments for locating a NIMZ in Coimbatore as it was an industrial city. He said in several states more than one NIMZ had been established and Tamil Nadu should emulate this example by establishing a NIMZ in Coimbatore also. This would lead to a mega industrial development here, he said.

Hailing the move for a new scheme for skill development that seeks to provide training with employment in MSMEs, he said this would contribute to the rapid growth of MSMEs in Tamil Nadu.

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Published on July 25, 2014
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