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TN govt seeks speedy approvals for industrial corridor projects

Press Trust of India  |  Chennai 

The government today asked the Centre to provide speedy approvals for the Chennai-Bengaluru and the Chennai-Kanyakumari industrial corridor projects to boost activities in the state. Also, the will set up an in about 250 acres near Sriperumbudur, Tamil Nadu's O Panneerselvam said. In addition, he said, the proposed establishment of defence production corridors across linking existing public sector facilities with new capacities to be created in the private sector will also boost engineering in the state. "I take this opportunity to request the Union (Suresh Prabhu) to ensure that speedy clearances are accorded to the Bengaluru industrial corridor and the Kanniyakumari industrial corridor projects," he said here at the inauguration of Engineering Sourcing Show. He said that and are working with the on developing the for these projects. He assured all support to investors to facilitate investments in the state. Panneerselvam further said the state has all the modern infrastructure and policies to attract and facilitate investments. "The biggest strength of is the availability of high quality and disciplined human resources," he said. The of grew at a compounded annual growth rate of 11.16 per cent between 2005-06 and 2016-17, reaching USD 207.79 billion in 2016-17. To promote innovation and manufacturing, the has announced USD 1.55 billion assistance for strategic entrepreneurship and innovation programme between 2017-2021. Panneerselvam said the state ranks third in terms of FDI inflow into the country and cumulatively FDI inflows in from April 2000-September 2017 stood at USD 25.92 billion.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, March 08 2018. 17:26 IST