Tamil Nadu aiming to establish R&D facilities to retain talent: TRB Rajaa

Rajaa said that the relationship between the Centre and the state has an impact on growth and there should be more decentralisation

There is a huge talent pool in Tamil Nadu, and the state government is aiming to establish more research and development (R&D) facilities to retain it, TRB Rajaa, Minister for Industries, Investment Promotion & Commerce, government of Tamil Nadu said on Monday.

In a fireside chat with A K Bhattacharya, Editorial Director, Business Standard, at Tamil Nadu Round Table 2023 in Chennai, Rajaa said that when there is a talent pool, it requires more R&D. "We would like to bring in more R&D facilities here. Make sure that they get the best of labs, best of testing facilities right here at home. To retain them in Tamil Nadu."

"Going towards a knowledge economy, making it an R&D hub is key. We are taking huge strides," he said, adding that they are establishing a Knowledge City close to Chennai, aiming to bring top global universities to their offices in the state.

"Probably by the end of next year, you are going to see really big names coming into Knowledge City," Rajaa said.

He added that the relationship between the Centre and the state has an impact on growth and there should be more decentralisation. "Education should be made a state subject," he said. 

Rajaa also said that a like-minded society is crucial for industrial growth, adding that it is also necessary for the talent to train with industries.

"Unless the talent gets to go and train itself in industry, this education system is not going to break out of shackles. I would like to see industry big guns come in and partner with this Knowledge City."

Rajaa also said that there is a need to decentralise financing and push microfinancing. "Only if the micro, small and medium industries (MSMEs) ecosystem grows will the local economy grow, and only then there will be an overall growth in the state," he said.

On Tamil Nadu becoming an industrial powerhouse, Rajaa highlighted three factors that helped the state do so.

These were: Talent pool due to education, enabling infrastructure given by the state government and policy continuity despite regime changes.

"Whatever regime change that we have seen in Tamil Nadu, we have stuck to the policy and made sure that industry gets its incentive come what may," he said.