Ensure investments reach all pattinams in Tamil Nadu, says VP Naidu

“TN is a beauty with duty-bound workforce; it will be mighty due to investments. I was told that there are investments for Nagapattinam but you should reach every pattinam (city) with investments,” said the Vice President, whose speech littered with puns and facts in equal measure invited peals of laughter among the foreign and Indian delegates.

Many of the global corporate giants present at GIM were now actively looking for investment opportunities in India with renewed optimism and enthusiasm, encouraged by the country’s vast market of more than a billion consumers, rising purchasing power, rapidly unfolding technology scenario and cheaper labour market, he said.

The government, the Vice President added, was responding to this with greater thrust on building industrial corridors, smart cities and schemes like housing-for-all so as to ensure the holistic development of the nation.

These corridors would promote integration, development and create an enabling atmosphere for industrial development, thus taking full advantage of the possibilities of Industrial Revolution 4.0, he said. However, even amid this, a number of challenges were still persisting, Naidu said, citing the instance of the banking sector grappling with bad loans.

Naidu praised late chief minister J Jayalalithaa for her industry-friendly vision, noting how she was focussed on making the people happy. “When it comes to prosperity or happiness, Jaya focussed on happiness for Tamils,” Naidu said.

Even as he urged the delegates to invest in Tamil Nadu and reap rich harvest, Naidu asked them to play the game by rules and not to evade tax.

Vice President Naidu complimented former prime minister PV Narasimha Rao and former finance minister (and later the PM) Manmohan Singh for the financial reforms they ushered in. Except during the time of elections, political parties should play together as Team India, he said.

Pointing out that the growth rate of India was hovering over seven per cent and assuring that the economy would be stable in the near future, Naidu said the country has been witnessing good growth rate due to the implementation of the Goods and Services Tax, “GST has brought in temporary pain, but will give you long term gain,” he said.