CMDA to prepare sustainable economic plan for Chennai

CHENNAI: In a bid to make Chennai into a top global city in terms of economic development, the Chennai Metropolitan Development Authority (CMDA) has decided to prepare a sustainable economic growth strategic plan for the Chennai Metropolitan Area (CMA).

"The objective of the Sustainable economic growth strategy plan for Chennai Metropolitan area is to articulate the economic vision along with projects and initiatives across priority sectors and stipulate directions for efficient land use with optimal and inclusive spatial distribution. In this process, the plan will also focus on the identification of new growth centres, indicate potential locations for proposed projects and investment planning prioritization, based on analyses of the economic growth trajectory and prospects of CMA, " a CMDA document said.

Of the 40 special economic zones (SEZ) in the state, as many as 22 SEZs are in CMA. Presently, the core city retains port activity (Madras Port Trust and Chennai Harbour) and houses the seat of administration (Secretariat) and other key services.

Manufacturing has developed in peripheral areas (like Oragadam, Sriperumbudur). Software services have developed in clusters spread across the IT Corridor along Old Mahabalipuram Road (OMR), Tidel Parks in Siruseri, and several SEZs.

During the preparation of the plan, present local economic development climate of CMA, macro-environmental factors affecting CMA, current regulatory framework, investment incentives, initiatives and policies, and internal procedures, which affect the existing economic situation of CMA will be studied. CMA's existing capacity (financial, infrastructure, human capital, skills and others) at a macro level will also be studied and needs, based on identified opportunities and sustainability criteria in order to understand the prevailing dynamics in various sectors will be determined.