TN should be preferred investment spot in South Asia: Stalin

COIMBATORE: Chief Minister MK Stalin in Coimbatore on Thursday said that the Tamil Nadu government is aiming to make the State a preferred destination for investments in South Asia.

“Continuous development should be achieved to reach the top at the national level. Not just that, our main aim is to make Tamil Nadu a preferred destination for investment in South Asia,” he said, while addressing business captains from Coimbatore, Erode and Tirupur districts.

Listing out various initiatives of the government to boost growth of the industrial sector, Stalin said Tamil Nadu has attracted Rs 69,375 crore by signing 131 MoU’s to generate 2.25 lakh jobs through five investors' meetings organised after forming the government.

Pointing out that Coimbatore’s participation is essential in Tamil Nadu achieving the status of one trillion economy, Stalin said Coimbatore will be developed into a new hub for emerging technologies, a new master plan will be prepared and a research park will be established in Bharathiar University.

Stating that yarn price hike has caused a huge impact in Western districts with many facing the danger of losing jobs, Stalin said industries could not be run due to increase in price of raw materials.

“On realizing the seriousness of the issue, I have written to Prime Minister Narendra Modi and concerned union ministers to take measures to solve the crisis. Also, a delegation of all party MP’s from Western Tamil Nadu led by DMK’s deputy parliamentary party leader Kanimozhi raised the issue by meeting Union Finance Minister Nirmala Sitharaman and Union Textile Minister Piyush Goyal in Delhi. I have also spoken to Union Textile Minister Piyush Goyal over phone,” he said.

For the development of Coimbatore and boost industrial growth in Western region, Stalin said the state government has sanctioned Rs 1,132 crore to carry out development works at Coimbatore International Airport.

“The project was conceived and land acquisition commenced in 2010. However, during the last ten years of AIADMK rule, the airport expansion works failed to take off. “These works will get over soon and Coimbatore will become Tamil Nadu’s best international airport next to Chennai,” he added.

Calling upon industrialists to focus on manufacturing semiconductor chips due to their global demand, Stalin urged industrialists to make investments, strengthen manufacturing, diversify business and produce value-added products with an aim to make Tamil Nadu into a multifaceted economy.