Jaya exempts entry tax for certain scheduled goods

State govt plans economic enterprise park in Nilakkottai near Madurai

The Tamil Nadu government today announced that all the scheduled goods imported directly and used in the manufacture of goods within the state will be exempt from entry tax. The government is planning an economic enterprise park in Nilakkottai near Madurai and a marine biotechnology park near Chennai.

Addressing the third India-Asean Business Summit, Tamil Nadu chief minister J Jayalalithaa said, "The entry tax will be exempted for scheduled goods, when imported and sold by any registered dealer, under the Tamil Nadu general sales tax act and used in manufacturing by 100 per cent export oriented units, units in the Madras export processing zones and special economic zones."

Jayalalithaa said, "I dream of making Tamil Nadu the numero uno state in the country, achieving all round development, leading to prosperity of the people. Two of my dreams have come true, one was the Veeranam scheme to bring water to Chennai city from Veeranam lake and the other pet project was the capture and elimination of dreaded forest brigand Veerappan."

The Tamil Nadu government is looking for greater co-operation from Asean in port development projects. The state can benefit from the regional economic integration's knowledge and expertise to develop our fishing industry.

The government has proposed to establish special economic zones (SEZ) with public and private sector participation in Ennore, Chennai and Thoothukodi. These SEZ will offer the ideal business economic system for entrepreneurs to set up their enterprises.

Jayalalithaa has invited biotechnology and pharmaceuticals companies from the Asean region to set-up their presence in the Ticel Bio-Park. The Ticel Bio-Park has been completed at a cost of Rs 62.5 crore.

US-based Cornell University had provided the design and technical assistance for building Ticel. The university will now provide a platform for transforming bio-tech research into commercial technologies.

Talking about the two-way trade which was about $13 billion, Jayalalithaa said that it does not appear to commensurate with the huge potential provided by the total combined population of 1.5 billion producing a trillion and half dollars worth of goods and services annually.

It possible to facilitate close interaction between the sugar industry in Tamil Nadu and its counterpart in Thailand. Tamil nadu with its strength in engineering and capital goods can certainly support new initiatives, both the partners can jointly explore the possibilities of bio-fuel and also share notes on restructuring the sugar industry, she said.

It will be similar for automobile components, leather, textiles and so on. India with its tremendous advances in information technology can support the requirements of Asean.

The chief minister said that there numerous opportunities for increasing trade and promoting growth.The best way to go forward is to have active and meaningful interaction with the chambers of commerce and regular exchange of business delegations, she said.