Mobility paves Samsung’s silver path
The Korean giant’s early bet on mobile phones helped it hit the $10-bn mark in India, but in its 25th year it ...
The Tamil Nadu government is working on “300-400 leads” of foreign companies, to get them invest in the State, an official said here today.
Participating in a Round Table discussion on ‘Reviving Tamil Nadu’s Economy’, the official said that the government has been working towards attracting investments from companies in some “focus countries”. He mentioned China, Japan, South Korea, Singapore and Taiwan in this context. The global consultancy, PwC is helping the government in pulling in investments into the State, he said.
“We had been working on this for the past six months,” but now, after the Covid-19 pandemic, the government would do it “with renewed vigor”.
A High Powered Task Force under the Chairmanship of the State’s Chief Secretary had been set up, he said. The task force will have its first meeting tomorrow (Saturday). The force will give its interim report in a month and its final report in two months, the official said.
Once the final report is received, the State will come out with “a very strong package”.
The participants, who were from the Tamil Nadu industry, voiced their views and demands. One point that came from Venu Srinivasan, Chairman and Managing Director of TVS Motor, was that: The State, for all its other merits, lacked social infrastructure good enough to attract foreign investors – unlike, for example, Gurgaon outside New Delhi.
Observing that this was due to a feeling in the State that “pubs and lounges corrupt our culture”, Srinivasan said that the mid-level manager in a MNC had little by way of entertainment after work hours.
Similarly, Tamil Nadu lacked in schools (of the kind that an expat might want to send his kids to) and golf courses, with the result that most flocked to Bengaluru even though the city is extremely congested.
Srinivasan also pointed out that there is not enough lands in the neighbourhood of Chennai for industries to come up. He urged the government to create industrial townships outside Tiruchi and Coimbatore—but he also noted that “we have been talking about it for 30 years.”
B Santhanam, Managing Director at the French glass manufacturer Saint Gobain, said that since Tamil Nadu accounted for a fifth of all MSMEs in India, the State should strive to get a fifth of the ₹4 lakh crore funding announced by the Prime Minister, for MSMEs. He also wanted the State to build “5 million houses in 5 years” for workers. At even ₹15 lakh a house, this would translate into an economic activity worth ₹7.5 lakh crore. Further, observing that 33 crore domestic tourists visit the State, he wanted the government to strengthen tourism infrastructure.
Hari Thiagarajan of Thiagarajar Mills of Madurai, said that while the State had announced a “very attractive Textiles Policy” in March 2019, the guidelines for operationalising the policy was yet to come. He noted that the State proposed to set up three textile parks – at Ramanathapuram, Salem and Tuticorin – and policy guidelines were required to attract foreign investments into the parks.
The Korean giant’s early bet on mobile phones helped it hit the $10-bn mark in India, but in its 25th year it ...
Antrix should adopt a different tactic than merely fighting over jurisdiction: Experts
Invest in relationships, enterprise, behaviour, effort and learning
From different types of osmoses to new membranes, researchers have come up with ways of drawing water
High valuation and stiff competition from larger players are a dampener
₹1503 • HDFC Bank S1S2R1R2COMMENT 1500148015101525 As the stock has broken out of resistance at ₹1,500, ...
The stock of Kajaria Ceramics Limited, after witnessing a fresh breakout, on Tuesday hit a fresh 52-week high ...
Will a stock continue its current trend or will it reverse? We tell you how you can read chart patterns to ...
In these isolated times when people yearn for a slice of the familiar, amateur and professional chefs are ...
‘You ready to go to work?’ Joe Biden had asked Kamala Harris before naming her as his running mate. ‘Oh my ...
Writer Narendra’s latest book, rich with vignettes from Bastar and his native village in Uttar Pradesh, ...
On the eve of his 86th birthday, a peek into an interview-based book that reveals the actor’s many moods, ...
Digital is becoming dominant media, but are companies and their ad agencies transforming fast enough to make a ...
Slow Network, promoted by journalist-lyricist Neelesh Misra, pushes rural products and experiences
How marketers can use the traditional exchange of festive wishes meaningfully
For Fortune, a brand celebrating its 20th anniversary, it was a rude shock to become the butt of social media ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...
Please Email the Editor