Kovai MSMEs ready to invest Rs 2K cr in GIM 2019

Addressing a road show in Codissia in Coimbatore on Sunday, the Minister said that around 74,885 MSME’s registered companies are functioning from Coimbatore. Following the efforts of the government, a total of 2,388 firms have expressed interest and signed MoU’s to invest Rs 2,838 crore for the Global Investors Meet. 

“The MSME’s came out with investments for Rs 16,500 crore during the previous Global Investors Meet; however we expect investments to double to Rs 32,000 crore this time. So far, investments for Rs 25,000 crore have come across Tamil Nadu,” he said. 

The GIM is to be held on January 23 and 24 in Chennai.

Stating that lack of adequate land in Coimbatore is hampering big industries from setting their foot in the district, the Minister said that the state government has received funds for Rs 75 crore to carry out airport expansion works. 

“Airport expansion will generate more employment opportunities,” he said. The Minister also said that a request has been made to the Central government to extend the Mumbai-Bangalore industrial corridor up to Coimbatore to boost industrial sector in the district. 

“Also, I had requested Union Defence Minister Nirmala Sitharaman to include Coimbatore among the list of ten cities to be chosen by the Union government for providing world-class development,” he added.