Industry bodies hail TN Budget, seek swift action

CHENNAI: Industry bodies CREDAI Chennai, MCCI and SICCI welcomed several announcements in the Tamil Nadu Revised Budget 2026-27, particularly those related to affordable housing, faster approvals, infrastructure, skill development and technology, while stressing that timely implementation would be key to translating the proposals into economic growth.

CREDAI Chennai said the proposed MY-HOME Affordable Housing Scheme, aimed at providing homes for working-class youth and lower-income families through the public-private partnership (PPP) model, was a positive step and said it was looking forward to more details. The developers’ body also welcomed the proposed SPEED - AI-enabled Single-Window Clearance Portal, saying a unified platform for approvals could reduce project delays and financing costs. It further backed the government’s urban master planning initiatives, the proposed Arivagam AI city, and continued investments in urban infrastructure including the restoration of the Cooum and Adyar rivers.

“If implemented successfully, the single-window portal will result in faster approvals and reduce interest costs for developers, translating into lower prices for end users,” said Mehul H Doshi, president, CREDAI Chennai.

The Southern India Chamber of Commerce and Industry (SICCI), meanwhile, said the Budget’s emphasis on infrastructure, skills, technology, education and transparent governance would support the State’s long-term growth ambitions, but noted that policy certainty, fiscal prudence and time-bound execution would be crucial. It welcomed the proposed Chennai Metro extensions to Kilambakkam, Pattabiram and Sunguvarchatram, the Arivagam AI and deep-tech city, the AI Economy Mission, internship opportunities for 20,000 youth, skill training for one lakh job seekers and five new Industrial Training Institutes.

“Industry will particularly welcome the continued push to expand Tamil Nadu’s economic geography. The three proposed Chennai Metro extensions can improve workforce mobility and strengthen connectivity to emerging industrial and residential corridors,” said VN Shiva Shanker, SVP, SICCI. Meanwhile, the Madras Chamber of Commerce & Industry (MCCI) said the Budget reflects a conscious effort to balance long-term economic priorities with investments in human capital and social development.

From an industry perspective, the Chamber is encouraged by the Budget’s integrated thrust on industry, energy, infrastructure, technology and environmental sustainability. These are the critical pillars that will determine TN’s competitiveness in attracting investments, expanding manufacturing, strengthening supply chains and positioning the State as a preferred global business destination.

A Viswanathan, president, MCCI, said: “the maiden Budget of the new Government sets a positive direction by according priority to manufacturing, infrastructure, technology, MSMEs, skill development and ease of doing business. These are all critical to Tamil Nadu’s long-term growth and global competitiveness.”