Tamil Nadu attracts over Rs.100,000 crore investments: Jayalalithaa

Chennai, Sep 9 (IANS) Tamil Nadu Chief Minister J. Jayalalithaa on Wednesday said the state’s first Global Investor Meet has exceeded the investment target of Rs.100,000 crore. Jayalalithaa

Inaugurating the state’s first Global Investors Meet here, Jayalalithaa said the target of Rs.100,000 crore of investment commitment has been exceeded.

“I am very confident that further commitments would be made over these two days and I would be able to make an announcement on the resounding success of the meet when we gather here again tomorrow (Thursday),” she said.

Stressing that her government is business-friendly and welfare-oriented, Jayalalithaa said the state has planned an investment of $250 billion in infrastructure under its Vision Tamil Nadu 2023 plan.

“My goal is to ensure that Tamil Nadu’s per capita income reaches that of, upper middle income countries by 2023. The people of this state must have access to infrastructure and services comparable to the best available anywhere in the world. Tamil Nadu will be a knowledge hub for innovation.”

“Tamil Nadu will become the most attractive investment destination in India and one of the three most attractive in Asia. A total investment in infrastructure of $250 billion is planned,” she added.

According to her, implementation of 84 of the 217 projects and programmes identified under Vision Tamil Nadu 2013 has already commenced.

Citing that the per capita income of the state was lower than the national average when she first assumed office in 1991, Jayalalithaa said now it is more than one-and-a- half times the national average.

“We are the second largest state economy in India today. This has not been a fortuitous outcome. It is the fruit of my government’s vision, far-sighted policy-making and effective implementation,” she claimed.

The chief minister said Tamil Nadu has the largest number of factories and largest employment in industry of close to two million people amongst all the states in India.

“Tamil Nadu ranks first in terms of number of new micro, small and medium enterprise (MSME) projects registered during 2013-14 with 1,16,393 new units accounting for 32.04 percent of the total new MSME units promoted all over India. During 2014-15 the number of MSME units registered went up even further to 1,43,104,” she said.

Jayalalithaa said the government has come out with Tamil Nadu Investment Promotion Programme (TNIPP) with the assistance of the Japan International Co-operation Agency.

She said TNIPP effectively aligns the policy priorities of the government with the expectations of investors.

Stressing on balanced industrial growth across the state, Jayalalithaa said the government has come out with an attractive package of incentives to encourage investors to invest in the southern districts of Tamil Nadu.

“A ready to occupy land bank of 42,000 acres is available for industry. I had also recently ordered that for investment commitments made in the state all necessary final clearances shall be accorded within 30 days. This re-establishes Tamil Nadu as a State that focuses on effective delivery without the accompanying hype,” Jayalalithaa said.

Citing the Centre for Monitoring Indian Economy (CMIE) data, Jayalalithaa said the total incremental investment proposed in the state during April 2011 to June 2015 is Rs.2,61,709.92 crore.

“From May 2011 to date the state government has facilitated 86 investments, with a cumulative investment of Rs.43,101.81 crore through Memoranda of Understanding and Single Window Facilitation,” she said.

She also inaugurated three major industrial projects involving a total outlay of Rs.2,568 crore at the meet.

Jayalalithaa inaugurated the new two-wheeler unit of India Yamaha Motor Private Ltd. with a production capacity of 1.8 million units per annum and its nine vendor units involving an outlay of Rs.1,600 crore.

She also inaugurated the TICEL Bio Park – II at Taramani, built at a cost of 168 crore rupees and the expansion unit of, TVS Motor Company Limited at Hosur with an investment of Rs.800 crore.

The chief minister also requested Nirmala Sitharaman, union minister of state for commerce and industry and Pon Radhakrishnan, union minister of state for road transport, highways and shipping to extend their support in getting central government’s clearances for projects in Tamil Nadu.

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