TN set to attract investment worth Rs 45,000 cr: Minister MC Sampath

Speaking at the 3-day Exhibition and Conference on Surface Engineering, Preparation, Coatings, Finishing, Corrosion Protection, Environment & Technologies, he said, “TN has emerged as the largest hub for the production of automobiles and auto components, electronic hardware, engineering, textiles, leather, etc and has taken steps to attract Rs 45,000 crore worth of investment in various sectors.”

“As part of the State Government’s efforts to improve on ‘Ease of Doing Business’, we have so far implemented 357 reforms out of 372 reforms suggested by Government of India and this implementation rate works out to 95.97%.” Sampath said. Dr U Kamachi Mudali, Chairman, Surface & Coating Expo 2018 & Chairman & Chief Executive, Heavy Water Board (HWB), Department of Atomic Energy, Govt. of India mentioned that the paints & coating industry alone has a business of $ 152 billion in the global market and is expected to grow up to $175 billion by 2022. He added, “As much as 40 % of the business is in Asia Pacific where China and India are the major contributors in electronic and automobile sectors respectively.”

M Ponnuswami, Chairman, CII Tamil Nadu State Council, in his address, spoke about the various policy measures taken by the Government to attract investments into the state. He also highlighted on the initiatives taken by the State Government on Ease of Doing Business to make Tamil Nadu a leading destination for global investments.