Even as the first edition of the Global Investors Meet (GIM) is set to roll out in May 2015, industry captains and associations across the State feel that the announcement comes at a time when there are several issues such as power shortage and poor infrastructure. Though industry chambers embraced the meet, some of them pointed out that with ‘brand Amma’ not in power, ‘decision making’ would really be tough.
Confederation of Indian Industry (CII) Tamil Nadu chairman Ravi Sam said the confederation had given its suggestions to the State government to make the event a success. “Today the States are in a competing mood to attract investments and this is a healthy trend. This also gives a chance to States to look inward and put their house in order. Tamil Nadu is already one of the progressive States, but we cannot take things for granted in an era of competition,” said K. Saraswathi, secretary general of The Madras Chamber of Commerce and Industry.
But, companies across the State feel that when they are lying in a state of limbo without power how would new investments comes in.
“Power is a major challenge and any industry that wants to set up operations would look at that as a priority,” said a senior official of a manufacturing firm in Chennai. Chairman of Southern India Mills’ Association T. Rajkumar said that given the State’s strengths in textiles, several industries were interested in investing here. “But, the problem is in sustaining the competitiveness. If efforts are taken for complete evacuation of wind energy, the power problem can be addressed to some extent,” he said.
Some industrialists down south expressed concern that they were not even consulted regarding the meet.
“Usually before announcing such meetings, the government conducts talks with stakeholders to find out what needs to be done. No such meeting was called for,” lamented a senior official from the IT industry. IT is one sector where the State can attract more investments, he said.
But, government officials feel that the power situation would change in the next two months and momentum will rise. “Issues will get sorted out. This will not be just another forum and the State would surely attract investments to the tune of Rs 1 lakh crore,” said a senior official from the Guidance Bureau. He also noted that in the next few days, the GIM would turn out to be a big brand that everyone would like to associate with.
(With additional reporting by C.Jaisankar in Tiruchi, M.Soundariya Preetha in Coimbatore and S.Poorvaja in Madurai)
