GIM to have 12 focus sectors

The curtain raiser for the Global Investors Meet (GIM) scheduled for May 23 and 24 organised by the Tamil Nadu government was held in Chennai, with leading industrialists hailing the initiative and promising additional investment in the State. Initiated by former Chief Minister J Jayalalithaa with a view to realising the objectives of Vision 2023, GIM aims to attract an additional investment of Rs 1,00,000 crore. It will have 12 focus sectors –

(1)  auto and auto components                  (2) textiles 

(3) food and agro business                         (4) aerospace                

(5) biotech and pharma                    (6) chemical and petroleum

(7) electronics and hardware            (8) heavy engineering

(9) infrastructure                              (10) IT and ITeS

(11)   renewable energy and            (12) skill development.

Addressing industrialists, Chief Minister O Panneerselvam gave a detailed account of the investor-friendly initiatives implemented by the State government. He said that, for all upcoming projects, single window clearances will be given within a month.  Designated IAS officers will be assigned as escort officers to assist groups of industries in obtaining clearances.

Industries Secretary CV Sankar, while making a power point presentation, said global leaders, heads of State, policy makers from across the world, representatives of international businesses and financial community, CEOs of corporates - national and multinational, global trade forums, academicians and entrepreneurs are expected take part in the event.

In addition to attracting investment in the state, the GIM also aims to build a brand-equity for Tamil Nadu globally, showcasing and positioning the State as the leading and preferred investment destination in India by detailing the strengths of the state and providing a platform for discussion on investment opportunities. Tamil Nadu is the second largest state contributor to India’s GDP contributing 8.40 per cent of the nation’s GDP.

The GIM will facilitate interactive sessions with Fortune 500 leaders, policy makers, senior government representatives and thought leaders, focused B2B and B2G meetings with senior representatives from the State government in attendance. There will also be interactive sessions with partner countries including South Korea, Japan and France focusing on bilateral investment opportunities and sharing international best practices.

Industries Minister P Thangamani allayed doubts and clarified that NOKIA faced some problems not because of the State Government, but because of retrospective taxes imposed by the previous UPA regime.