“Tamil Nadu: The investment hotspot”

With two phases of ‘Vision 2023’ being launched, Tamil Nadu is fast becoming the number one investment avenue in India.

Deeptha Sreedhar

Set at a target of Rs. 15 lakh crores, the Tamil Nadu government launched the phase-II of the economic plan Vision 2023. Aimed at making Tamil Nadu the best industrial state and most balanced economy, the second phase of this plan was launched on 23^rd February 2014. Among the major beneficiaries include the automobile sector (which has an exclusive plan) and the bio-technology sector.

The launch also witnessed the signing up of over 16 MOUs with MNCs, that will invested in a plethora of fields at Tamil Nadu including projects worth Rs. 5,081 crores. According to the Vision 2023 document, the two phase investments from MNCs stands at a whopping Rs. 33,000 crores with 33 MOUs being signed between the TN government and the MNCs. This is expected to generate employment for over 1.6 lakh people across the state. India being a developing country, it is important that a state like Tamil Nadu emphasizes on infrastructural investment and development. Because infrastructure forms the base on which most sectors develop, such an initiative to pump in investments in it is a welcome move.

India is heading towards rapid development and it is time that politicians understand the difference between governance and ego battles. There can be differences in two party’s ideals, but unless they share a common motto to serve the people, such economy worthy projects maybe tussled in political vendetta.  

The figures in investment are corrected to future inflation levels and so one should not equate the changes in direct form. The proposed projects are well planned and hence, I believe can be implemented over the time, as planned. Vision 2023 in a nutshell is a foolproof plan to make Tamil Nadu a leading state in India. If it is undisturbed by any political interference, corruption or delay in plan approvals, it will definitely change the face of Tamil Nadu, at both the national and International level. 

The Capital Chennai is already an automobile hub with companies like Hyundai, Mahindra, Nissan, Michelin and Ford setting up their factories here.  The project in proposal is an individual plan of action that shall not be affected with a change in government. Therefore, it can be accomplished as planned.