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TN - so much to offer...

Senior civil servants of the Tamil Nadu government have been busy marketing the Tamil Nadu Global Investors Meet (GIM) planned in May.

Additional Chief Secretary & Commissioner, Industries Department, C V Sankar, Commissioner & Secretary-Planning, S Krishnan and M Velmurugan, Executive Vice Chairman, Guidance Bureau have been busy conducting road shows in Europe, Japan, Singapore, Malaysia and other Asian countries. There is satisfaction over the response on the part of these countries to participate in the GIM.

Sankar made special reference to companies and institutions in France and Japan evincing interest to join as partners.

Tamil Nadu has registered striking progress in regard to attracting foreign direct investments. Large scale investments have flown into the automobile industry at Sriperumbudur, Maraimalainagar and Oragadam. Global giants including Ford, Hyundai, Renault Nissan and Daimler have made large investments for the production of automobiles. These have been massively supported by a large number of component manufacturers and suppliers of essential parts like safety glasses and tyres. These together have helped Tamil Nadu emerge as a strong centre for automobiles in Asia. Interestingly, the state has also evolved as a large exporter of fully built cars, commercial vehicles, two wheelers and a vast range of forgings, castings and auto components.

The state also has its strengths in the IT sector. The special efforts made over the last decade had also attracted investments in a wide range of electronic goods.

 

Several unique features...

Tamil Nadu has certain unique advantages not offered by most other states:

  • Strong infrastructure in terms of well laid roads and bridges
  • A long coastline that has three major ports at Tuticorin, Ennore and Chennai and a large private sector port of L&T at Kattupalli. The last one also has ship building, sophisticated fabrication and repair facilities.
  • A strong network of institutions that offer higher education in science, arts,  engineering…There are over 540 engineering colleges in the state that turn out a couple of lakhs of engineering graduates and post graduates every year.
  • Tamil Nadu also has the credential as the healthcare capital of the country with a large number of super specialty and specialty hospitals.
  • Maharashtra and West Bengal have a longer history of industrial development; but industrial development is confined to a few pockets/districts of the states. Tamil Nadu has its development well spread over the entire state from Chennai to Salem, Coimbatore to Tiruchi - Madurai - Tuticorin. These towns have also been well- connected by roads and the railway.
  • There are also a number of airports; four of these are international.
  • Unlike in several other states, public sector units in the state like BHEL, Neyveli Lignite Corporation, ICF and Chennai Petroleum have been profitable registering growth and providing jobs for thousands.
  • Stable political administration and a civil service known for its efficiency are other special features of the state. Tamil Nadu has been returning a single party with comfortable majority.
  • The financial infrastructure is also strong. With a strong spread of banking and non-banking finance companies the state is the home for the largest NBFC, Shriram Capital Ltd, and the oldest, Sundaram Finance Ltd., that have rendered great service to lakhs of small businesses, especially truck operators.

Prime Minister Narendra Modi spearheaded such meets through the biennial Vibrant Gujarat shows. These have been growing bigger and better attracting widespread notice. He also inaugurated such a meet at Indore in Madhya Pradesh which attracted wide participation. He should participate in the GIM with equal zeal. Significantly, in his hectic tours he has not visited Tamil Nadu as Prime Minister. The GIM would be an event of great significance that should involve his participation too.  This will ensure business leaders from all over the country participating in the GIM.

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