Steps taken to attract investments worth Rs 45,000 cr: TN govt

The Tamil Nadu government has taken steps to attract investments worth Rs 45,000 crore in various sectors, state Industries Minister M C Sampath said today.

In his inaugural address at the three-day Surface and Coating Expo, organised here by trade body CII, Sampath said Tamil Nadu, with a GDP of 8.03 per cent in 2017-18, was one of the top three industrialised states in the country.

"The state is the largest hub for production of automobiles and auto-components, electronic hardware, engineering and textiles and the government has taken steps to attract Rs 45,000 crore worth of investments...", he said.

Chairman and chief executive of Heavy Water Board, an industrial unit of the Department of Atomic Energy, U Kamachi Mudali said the paints and coating industry has a business of USD 152 billion in the global market and this was expected to reach USD 175 billion by 2022.

"Forty per cent of the business is in Asia-Pacic where China and India are the major contributors," he said.

The exposition focuses on the latest trends, innovations, research and development and serves as a platform to various stakeholders to learn the best practices and deliberate on the opportunities to build a strong growth trajectory for the sector.