Comments
Goods and Services Tax opens up a huge potential for the warehousing and logistics sector in Tamil Nadu, according to Ajit Kumar Chordia, Managing Director, Olympia Group.
Addressing a conference on ‘Tamil Nadu Real Estate and Infrastructure 2017’ organised by the Confederation of Indian Industry here today, Chordia said that after GST, which did away with diverse state taxes, warehousing will get a huge push as more companies are likely to invest in warehousing that will make last-mile connectivity easier to save time in transit and also cost.
IT office spaceDue to heavy congestion in IT capital Bengaluru, companies are looking at viable options in other states. The Tamil Nadu government should boost infrastructure development by establishing TIDEL Park 2, which will lead to overall development of the area.
There is a lack of quality IT office space in Chennai while demand is on the rise. Establishing TIDEL Park 2 in areas such as North Chennai, Poonamalle or Outer Ring Road will spur development, he added. Chordia said, “It will open up newer markets and give necessary stimulus for growth.”
Most states are aggressive in attracting investments by offering incentives and ease of doing business. Tamil Nadu with its surplus power, land availability, talent and robust connectivity is yet to catch up. Chordia said, “Tamil Nadu is having difficulty keeping pace with changes that are happening.”
Businesses should work together with the government to take investments to the next level, he added.
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.