Conscious development in the auto manufacturing ecosystem has yielded desired outcome positioning Tamil Nadu as the manufacturing hub of India. A similar trend is emerging in the aerospace sector also, said MC Sampath, Minister for Industries, Steel Control, and Special Initiatives, TN.
Besides auto and electronics sectors, petrochemicals are another area of focus for the state, he added.
Elaborating on the steps that will take the state to the next level of industrial development, Sampath said, “Our Sipcot has 21 industrial parks with all infrastructural facilities which will provide industrial plots to industries in need. New industrial parks are also under development at Manalur, near Chennai, and Tindivanam and Manapparai, near Tiruchy.” “Further, the Chennai-Bengaluru Industrial Corridor and Chennai-Kanniyakumari Industrial Corridor projects will also commence soon.
These projects will improve the state’s economy as a whole,” he added.
Pointing out that TN is a leading destination for foreign direct investment in the country, the minister said the efforts to attract more investments into the state will continue, especially in facilitating the relocation of the industry to the state.
Ficci President Sandip Somany, in his welcome address, said, “Investment promotion requires continuous efforts and Ficci with its membership base, strong networking, intellectual capabilities and the experience of doing similar investment promotion activities for various states, could add a lot of value to this exercise.”
Padmaja Chunduru, MD-CEO, Indian Bank, stressed that collaboration with different stakeholders is critical to the banking sector and Indian Bank is specially focused on this aspect.
Highlighting the role of MSMEs for the country’s development, she said the bank is making all efforts to involve them in a broader way.