EPS says DMK govt in slumber, many textile units moving out of Coimbatore

CHENNAI: Leader of Opposition and AIADMK general secretary Edappadi K Palaniswami charged that several textile industries are moving out of the state due to the state government’s wrong policies and steep increase in power tariff.

“The incompetence of the state government has resulted in losing out Foreign Direct Investments (FDI) to other states in the country,” the AIADMK leader said.

“Now, the situation has worsened as many textile industries in Coimbatore and neighbouring districts are exploring the possibilities of shifting their base to other states. In July last year, the Chief Minister of Uttar Pradesh held a meeting with the Tirupur Exporters Association, South India Mills Association and Indian Cotton Federation and entered into agreements with them. Investments in the textile sector would move out of the State if the government doesn’t intervene,” said Palaniswami in the statement.

He further said that the previous AIADMK regime had taken proactive measures to establish semiconductor industrial parks in Nanguneri in Tirunelveli and Hosur. “It has been 38 months since the DMK formed the government. But the government has failed to take it forward. It is the reason behind semiconductor manufacturers moving to Assam and UP,” he said.

Chief Minister MK Stalin should “wake up from his deep slumber,” said the LoP. He appealed to the CM to take necessary measures to protect the economy of Coimbatore.