UP, Gujarat, Maharashtra, Assam offer lessons that TN can replicate

Tamil Nadu will definitely grow at 9-10 per cent on a compounded annual growth basis for 8-10 years, but it would be worthwhile to also note how other states are doing things differently, said an economist.

Be it UP or Gujarat or Maharashtra or Assam, by “keeping an eye” on them, TN could borrow emulation-worthy ideas that will aid the state, said S Narayan, member, Economic Advisory Council, TN and former finance secretary on Friday.

In his address at an event organised by magazine Industrial Economist, ‘Turbocharged Tamil Nadu, Towards a Trillion Dollar Economy’ here, he sought to point out that the state is absolutely on track to register double digit growth numbers. “Things are happening or starting to happen in UP,” he said, noting that it would be good for TN to take cues from other states in this regard.

Gopal Srinivasan, CMD, TVS Capital, also endorsed this, while lauding the “listening political leadership,” which would help TN to emulate the “unusual” aspects of other states.

Narayan also said it was high time businesses and investments chase opportunities beyond Chennai. Given that 55 per cent urbanisation is expected to reach 70 per cent over the next five years, it is imperative to “disperse” development rather than focusing on Chennai alone. As many as 14 cities had national highway connectivity apart from educational institutions, he said.

Citing the Thoothukudi furniture park project, he said the genesis was the monthly import of 28,000 tons of timber from Malaysia and Indonesia which went round the coast to Gujarat only to come back as ordinary furniture. Interestingly, in small towns such as Arappukottai, Kallakurichi, plenty of furniture shops had sprung up. So it seemed only prudent that the Myanmar wood could be brought via the Thoothukudi port for effective use, he said, adding there were five such thoughts (ideas) that were being embedded, of which few of them had started to germinate.