TN in talks with investors for 27 major project proposals

Our Bureau Chennai | Updated on July 09, 2012 Published on July 09, 2012

( from right ) Mr R.V. Kanoria, President, FICCI; Mr P. Thangamani, Tamil Nadu Minister for Industries; Mr O. Panneerselvam , Tamil Nadu Finance Minister and Ms Naina Lal Kidwai, Senior Vice President, FICCI, at the National Executive Committee meeting of FICCI, in Chennai on Monday. Photo - Bijoy Ghosh   -  Business Line

The Tamil Nadu Government is in talks with investors for 27 major investment proposals worth over Rs 30,000 crore, said the Tamil Nadu Minister for Industries, Mr P. Thangamani.

Speaking at the Executive Committee Meeting of the Federation of Indian Chambers of Commerce and Industry, Mr Thangamani and the State Finance Minister, Mr O. Panneerselvam, reiterated the State Government’s commitment to establish Tamil Nadu as the country’s new growth model. They invited investment partners to participate in the generation and creation of wealth.

The apex industry body too has drawn up a roadmap for a constructive partnership with the State for its development. The Federation’s Secretary-General, Dr Rajiv Kumar, said the industry body, along with Bain & Company, has prepared a research paper titled ‘Empowering India – Redesigning G2B Relations, Tamil Nadu’.

According to him, the idea is to identify some key factors that impact the business environment as well as progressive and high-impact reforms that have been implemented across various States.

Best practices

According to the study, Tamil Nadu figures in two of the list of 10 best practices and procedural initiatives in India — creating industrial clusters and ease of getting construction permits; while Gujarat figures in seven and Karnataka in three.

Mr R.V. Kanoria, President of the Federation, said Tamil Nadu is one of the most economically progressive States with a six-fold increase in the per capita income of its citizens.

However, he said the State should give a big push to the power sector.

According to a senior Industry Ministry official, the State Government is in the process of acquiring 8,000 acres across the State to set up industrial parks. “We hope the acquisition process will be over in the next five to six months’ time.”

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Published on July 09, 2012
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