TN investors meet may be affected by Jaya’s absence -Governance Now

TN investors meet may be affected by Jaya’s absence

Political uncertainty does not lift the sentiments of the industrialist and it was visible in the event on global investors meet

Shivani Chaturvedi | February 16, 2015 | Chennai

#Jayalalithaa #Tamil Nadu #GIM #Chennai #Global Investors Meet

Will J Jayalalithaa’s absence from administration affect the progress of Tamil Nadu?

There is real danger of halting industrial development in TN and the first test is just over three months away. But an indication of future became apparent on Saturday.

The state is hosting its first-ever Global Investors Meet (GIM) on May 23 and 24. A curtain raiser event for the GIM was held on Saturday. The event, however, turned out to be a low key affair with not many industrialists participating in it.

A few of the city-based industrialists with whom Governance Now spoke to expressed serious concern and uncertainty that looms over the GIM.

With former chief minister J Jayalalithaa not in picture and a resultant political uncertainty in Tamil Nadu is making the industries to feel uncomfortable, said a city-based businessman P Krishnan. He said the neighbouring Andhra Pradesh seems to be more proactive and it is getting a lot of investments.

“What I understand is Andhra Pradesh is setting up industry zone, which is around fifty to sixty kms north of Chennai (the area is near AP-Tamil Nadu border). The AP government is inviting people to set up industry there,” he said.

Another industrialist on the condition of anonymity, said, “with J Jayalalithaa not around, there is some uncertainty. I wonder how the state would make this mega event a success.”

Meanwhile, minister for electricity, prohibition and excise N R Viswanathan has urged entrepreneurs to participate at the Global Investors Meet. He held out incentives for the local entrepreneurs. The minister said that the incentive package available to foreign investors will be available for local entrepreneurs too, depending on the investment in a project.

The GIM aims to attract an additional investment of Rs 1,00,000 crore. It will have 12 focus sectors - auto and auto components, textiles, food and agro business, aerospace, biotech and pharma, chemical and petroleum, electronics and hardware, heavy engineering, infrastructure, IT and ITeS, renewable energy and skill development.

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