CODISSIA proposes to jointly launch PSU-like company

V Sundaram, President, CODISSIA told DT Next the proposed public limited company that will be independent from CODISSIA will offer dual benefit to the government and Coimbatore region. The government will be able to save a lot on imports while the region would be able to generate more jobs and result in the growth of the industrial hub. 

“Despite being an industrial hub for decades, neither the State nor Union Governments have taken the initiative to establish a Public Sector Unit (PSU) in Coimbatore,” he said and pointed out that the Centre has initiated works for establishing an Integral Coach Factory at neighbouring Palakkad, a town that primarily depends on components from industries in Coimbatore. 

This was the spark behind the idea of forming a PSU like company with the 2,500 members of CODISSIA as stakeholders and vendors. “From small rubber and metal spares to state-of-the-art forging, casting, machine components and fabrication works, many of our members have already been supplying components to the railways for years. So, we have come forward to develop products for the railways in areas in which the country is importing, due to inability to produce them locally,” he added. 

With the Railways investing a lot on infrastructure and many upcoming novel superfast trains and Metro rail projects in many cities, CODISSIA is confident of even manufacturing modern and multi facilitated coaches too. “After meeting the Railway Minister our representatives are also planning to meet the Defence Minister to put forward a similar proposal to him,” he said.