SPEED to show case southern TN

04 November 2006

Chennai: The Confederation of Indian Industry (CII) Southern Region is organising Southern Property Through Enhanced Economic Development (SPEED), a three day exposition-cum-conference showcasing the strengths of southern districts in Tamil Nadu between 1-3 December 2006 at Madurai.

Addressing the media T Kannan, chairman, SPEED 2006 and managing director, Thiagarajar Mills Ltd said that that the southern districts, which contribute to over 19 per cent of the gross state domestic product (GSDP), have already attracted infrastructure investments of over Rs33,000 crore. Since the region is abundant with skilled manpower, the region will continue to attract fresh investment in infrastructure and the manufacturing sector, which has the potential to create 80,000 new jobs in the next 3 years.

He said that SPEED will harness new investment initiatives and business opportunities for the southern districts of Madurai , Sivagangai, Tuticorin, Tirunelveli, Virudhunagar, Ramanathapuram and Kanyakumari.

According to R Dinesh, co-chairman SPEED 2006 and executive director, T V Sundram Iyengar & Sons Ltd, CII is proposing a four geared strategy of creating a manufacturing hub in Madurai and satellite hubs at Virudhunagar, Tirunelveli and Tuticorin, an export cum services hub at Tuticorin, knowledge corridors at Madurai, Virudhunagar and Tirunelveli and tourism corridors at Madurai, Karaikudi, Ramanathapuram and Kanyakumari.

Speaking about the event M Lakshminarayan, chairman, CII-Southern Region and joint managing director, Motor Industries Company Ltd said, though Tamil Nadu has been an aggressive and successful in attracting investments and ranked third in terms of foreign direct investments, the southern districts of Tamil Nadu remains largely uncatered.

He pointed out that CII's taskforce to promote industrialisation of southern districts in Tamil Nadu has earlier commissioned a study - "Industrialisation of Southern Districts - The Unexplored Opportunity" The study covered seven districts which included Madurai, Sivagangai, Ramanathapuram, Kanyakumari, Virudhunagar, Tuticorin and Tirunelveli.