A place where it is easy to do business, and clearances and processes are timely and transparent — this is the biggest assurance that Tamil Nadu can give investors, say industrialists and industry bodies.

With the two-day Global Investors Meet a week away, industry representatives feel that the government should correct certain perceptions about Tamil Nadu.

This is the first time that the State is organising such an event to showcase itself on the international scene.

It is happening in the backdrop of an overall slow business environment globally. A number of State Governments, including Gujarat, Madhya Pradesh, Andhra Pradesh, Karnataka, Rajasthan and Maharashtra, are aggressively wooing investors. Tamil Nadu should not only showcase its natural strengths but also the efficiency of its official machinery, they say.

It is a misconception that project clearances are delayed in Tamil Nadu, say officials pointing to the clearances over the last four years.

Pollution control norms are among the biggest stumbling blocks anywhere, but in Tamil Nadu over 4,250 Consent to Establish; and 5,781 Consent to Operate have been given by the Tamil Nadu Pollution Control Board.

These are approvals to set up and to start running any commercial unit, including industrial projects, and construction of large commercial and residential spaces.

Huge investments More than 900 large investments between ₹10 crore and ₹100 crore have been cleared. Investments totalling about ₹4 lakh crore have come in. The State Industries Promotion Corporation of Tamil Nadu has allotted 3,050 acres to 384 units in its industrial estates. The units have generated over 60,000 jobs.

Even the power situation has ‘stabilised’ and large new projects are being expedited, an official said referring to the acute power shortage faced by industries a couple of years ago.

On competition from the neighbouring States, officials point out that Tamil Nadu has a well established industrial base and physical and social infrastructure that support industry. In terms of skilled and educated human resource, physical infrastructure such as roads and ports, financial services and allied small and medium enterprises that support large industries, the State comes out on top. New States certainly go out of the way to attract investments but Tamil Nadu has proven itself on this point and it will be to the investors’ advantage to utilise the existing opportunity, say officials.

Venu Srinivasan, Chairman, TVS Motor, said the international event is ideal to showcase Tamil Nadu’s strengths to investors. The State is well positioned in terms of human resources, infrastructure and overall business environment. Globally, investors are looking at India, a fast growing economy, as an investment opportunity and Tamil Nadu is one of the strongest destinations.

Japanese funds Hidehiro Ishiura, Director General, JETRO-Chennai, said “Japanese companies’ confidence in India is still high, not shaken. In the long run, it is good to be present in India.”

The ‘investment momentum is steady’ and Tamil Nadu is holding the Global Investors Meet at an ideal time, he said. Competition among the State Governments is high but ‘Tamil Nadu has been a little shy’ in showcasing its strengths. A large Japanese delegation will be participating in the event and at least 6-7 investment agreements will be signed, he said.

Japan is one of the eight partner countries for the event apart from Australia, Canada, France, Italy, Japan, Korea and Singapore.

According to officials, Chennai is geared up to handle the international event in which over 3,500 delegates are expected to participate.

Over 1,000 hotel rooms in premium and luxury segments have been blocked. Mobile phone apps will help delegates keep track of their schedule at the event. The organisers have tied up with a number of travel agents for cabs to and from the venue. The city is being spruced up with the roads leading to the Chennai Trade Centre, the venue, being newly laid.

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