Panel formed to give roadmap to draw investments

“The economic upheavals and supply constraint caused by COVID-19 had prompted many countries to rethink their supply chains, which are excessively dependent on certain countries. Reports indicate that countries like the USA, Taiwan, Japan, Singapore and South Korea are likely to diversify by establishing their supply chain in India”, said Chief Minister Edappadi K Palaniswami, in a statement.

He also said that Tamil Nadu was one of the favourable destinations for companies in the country and to further attract the companies, which want to make fresh investments in the state, the special task force had been constituted.

The Government Order (GO) related to the formation of the special task force, said the new panel will have 13 members, excluding Chief Secretary, who will be appointed by Secretary of Industries department. The committee will also have representatives from business councils from USA, Taiwan, Japan, South Korea and Singapore.

The primary duty of the task force is to identify the sectors in which the State can attract investments post COVID19 pandemic, to formulate special incentive package and facilitations needed to attract investments, to identify key infrastructural projects such as industrial townships and to identify measures for fastrack clearances to promote these investments.