Chennai: Prime Minister Narendra Modi has been campaigning for foreign investments and technology from China and US for the past two months, but so far there is no trace of any investment in Tamil Nadu and the scenario looks bleak.
Though a few Japanese firms continue to show interest eyeing the port connectivity in TN, sources said to attract huge investments and to explore business opportunities, the state government has been working on strategies under which Rs 190 crore has been sanctioned to strengthen civic infrastructure. Preliminary works to establish better roads, water treatment plants, drinking water supply and new streetlights in industrial areas has already started.
The government had also passed orders to set up an auto city, a state-of-the-art industrial park as a joint venture. The new auto city will come up at a sprawling 1,000 hectares catering to domestic and global automotive components.
The city will have units focusing on design, prototyping, manufacturing of cars, buses, trucks and earthmoving machineries, sources said, adding that agencies like State Industries Promotion Corporation of Tamil Nadu and Tamil Nadu Industrial Development Corporation have been directed to submit proposals in this regard. Besides new auto clusters in Tiruchy, Tirunelveli and Thoothukudi are also under active consideration, sources added.
Welcoming the government decision for developing infrastructure and to attract investments, Mr K.V. Kanagambaram, president, National Confederation of Small Industries, said rather than waiting for foreign investments and new industries, the government, through Small Industries Development Corporation (SIDCO) should focus on small industrial units.
Andhra Pradesh business module is updated and through the Andhra Infrastructure Development Corporation, the infrastructure is periodically upgraded to attract industries and investments.
Till 1990s, Sidco facilitated land purchase for industries below the market price and it also helped the entrepreneurs avail of machineries and raw materials without hassle. Such moves helped industries to thrive: now Sidco is just another government department, he said.