Tamil Nadu flooded with investment proposals: Jayalalithaa

Tamil Nadu chief minister J Jayalalithaa today said that the state of Tamil Nadu is experiencing a 'burgeoning flood of new investment proposals', just a day after complaining about special tax concessions extended to some states on the grounds of balanced regional development. The concessions distorted investment flows, she had said.

Delivering the special address on 'TamilNadu: The preferred destination for investors', organised by the Federation of Indian Chambers of Commerce and Industry (Ficci), Jayalalithaa said that the growth of Gross State Domestic Product (GSDP) is 8.73 per cent in 2004-05 and that of manufacturing is 8.7 per cent.

She added that there are many projects in the pipeline for energy sector including the creation of 4,000 mega watt new capacity consisting of 1,000 mega watts each at North Chennai and Tuticorin and the Koodangulam atomic power station with a capacity of 2,000 mega watts.

An ordinance has also been promulgated for the development of Special Economic Zones (SEZs) which will further strengthen the state's position as a global manufacturing hub.

Onkar S Kanwar, president, Ficci, in his speech recommended a five-fold strategy for the state which included identifying high potential sectors in agriculture, industry and services, accelerating the development of infrastructure and improving investment environment.

Kanwar added that Ficci proposes to promote Tamil Nadu in the 'Global Investors Summit' during the next year.