CII’s sustained efforts to drive State’s progress
Tamil Nadu, known as ‘the Detroit of India’, continues attracting investments from prominent automobile companies in India and overseas. It is to further promote development of the auto sector, its key focus area, that the Tamil Nadu Government has been offering investor-friendly schemes. There are over 3,000 MNCs operating in the State, and the latest figures reveal that the State produces 16 lakh cars and two lakh commercial vehicles per annum. In terms of GDP, Tamil Nadu maintains a high level of 7.9% against the country’s overall GDP of 7.2%. All this is clear indication that the State remains an uncontested leader in several fields, including automobiles.
These observations were made by Mr. M.C. Sampath, Tamil Nadu Minister for Industries, Steel Control and Special Initiatives, while inaugurating the CII Conference on ‘Ease of Doing Business in Tamil Nadu’ organised in Chennai.
Particularly referring to the fact that the former Chief Minister, the late Ms. J. Jayalalithaa, had announced the ‘Vision 2023’ policy aimed at assuring jobs for all, Mr. Sampath said that this major initiative led to the issuance in recent months of licence for a number of MSMEs and large-scale companies.
It is in order to attract further investments that the State Government is organising the Global Investors Meet 2019 in Chennai on January 23 and 24, which is expected to be attended by a larger number of investors than in the previous meet, he added.
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