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Plan to make TN the most favourable investment destination in South Asia: CM

Chief Minister M K Stalin said the appointment of the Economic council has 'infused confidence among industries' besides garnering global media attention.

By: PTI | Chennai |
July 1, 2021 9:40:52 am
M K StalinTamil Nadu Chief Minister and DMK chief M K Stalin.

The appointment of a council comprising world renowned economic experts was the base plan towards making Tamil Nadu attain the most favourable investment destination status in South Asia, Chief Minister M K Stalin said on Wednesday.

After taking part in the 10 millionth car roll out ceremony at the Sriperumbudur facility of Korean auto-maker Hyundai Motor India, Stalin said the appointment of the Economic council has ‘infused confidence among industries’ besides garnering global media attention.

“It (The committee of economic experts) is the base plan to the vision of making Tamil Nadu as the most favourable investment destination in South Asia. Several economic experts have praised the government’s decision,” he said.

Governor Banwarilal Purohit, during his first address to the Tamil Nadu assembly after the DMK formed the government in May, said an economic advisory council to the chief minister would be constituted comprising experts, including Nobel laureate professor Esther Duflo, former RBI Governor Raghuram Rajan, former chief economic adviser Aravind Subramanian among others.

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Stalin said the government would work based on the recommendations made by the Council towards making the state reach all round development.

Explaining the strategy behind his plan, Stalin said the government has commenced work towards ensuring that there was multi-sectoral development in the state, setting up of new industries, creation of new jobs in regions where companies had set up shop.

“A favourable atmosphere should be created in attracting investments from companies,” he said.

“During the previous DMK regime (in 1998) we made Chennai as the ‘Detroit’ of India in terms of the number of cars produced.Now we should make Tamil Nadu attain all round economic development in the country,” he said.

On Hyundai Motor India reaching the 10 millionth car roll out from its factory, Stalin said it was a huge achievement since the automaker has become the second biggest car producer in a short period of time and also a leader in automobile exports.

“Till date Hyundai Motor has shipped 31.3 lakh car units to 88 countries. Not only Hyundai grew, they have also ensured Tamil Nadu grew on industrial activity,” he said.

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