TN attracts Rs 2.088 crore in first six months of fiscal year

This comes prior to the Global Investors Meeting 2015 to be held to attract Rs 1 lakh crore investment

The Tamil Nadu Industrial Guidance and Export Promotion Bureau (Guidance Bureau), constituted by the state government to attract major industrial projects, has attracted investment to the tune of Rs 2,088.09 crore in nine projects through single window facilitation between April and June, 2015. This comes prior to the proposed Global Investors' Meeting 2015 to be held on September 9 and 10 in Chennai to attract more than Rs 1 lakh crore of investment in infrastructure, manufacturing and services.

According to the Policy Note of Ministry for Industries and Transport, the investments the Bureau attracted during the six months include Rs 716.10 crore food products project by ITC Ltd in Vadugapatti, Velur villages providing an employment to 1948 people directly and indirectly. ITC has another Rs 60 crore project came induring the same time in Thiruvottriyur.

It also include a Rs 800 crore investment by Zoho Corporation in IT/ITeS sector providing job to 5,700 people directly and indirectly.

According to the Annual Survey of Industries for 2012-13 by Central Statistical Organisation under the Government if India, the state is the first among Indian states with the highest number of factories with 36,869 factories, first in terms of the number of workers employed with 16,02,447 workers and first in terms of the total number of persons employed, at 19,65,020.

The State is third in terms of invested capital of Rs 2,92,260 crore and third in terms of value of total industrial outputs at Rs 6,19,525 crore.

It has attracted a cumulative Foreign Direct Investment (FDI) of Rs 93,725 crore during April 2000 to May 2015. The incremental FDI attracted during May 2011 to May 2015 was Rs 60,620 crore.

According to the Department of Industrial Policyband Promotion (DIPP), Ministry of Commerce and Industry, the cumulative investment attracted by Tamil Nadu through Industrial Entrepreneurs Memorandum during the period between May 2011 to June 2015 was Rs 1,33,753 crore.

The State Industries Promotion Corporation of Tamil Nadu Ltd (SIPCOT), which has around 20 indistrial parks, is currently acquiring land for 13 new industrial parks during 2015-16 and proposals seeking the administrative sanction of the government for acquisition of about 12,000 acres of land in Vellore, Krishnagiri, Dharmapuri, Kancheepuram, Tiruvallur and Perambalur districts for creation of land bank.

The state government has so far entered into 80 Memoranda of Understanding (MoU) with 66 industries, including expansion schemes, for establishing their factories in the State with a total investment of Rs 83,302 crore. Of this 41 industries are located in SIPCOT projects and 28 of them have already commenced their production and the remaining units are taking efforts to establish their units, said the Ministry.