Since its launch on November 1 last year, the total investment proposals made through Tamil Nadu’s single window clearance portal (https://www.easybusiness.tn.gov.in) has crossed the ₹10,000-crore mark.

A total of 277 companies (39 large and 238 MSMEs) plan to commission 194 projects with a total investment of ₹10,032.70 crore and will recruit 44,793 people, said M Velmurugan, Executive Vice-Chairman, Investment Promotion, Tamil Nadu Industrial Guidance and Export Promotion Bureau.

Time-bound clearance

The portal, aimed at enhancing the ease of doing business in the State, enables online submission of application and offers time-bound clearance. It enables online tracking of approvals and provides deemed approvals for certain clearances within certain time limits.

‘Silent performer’

Tamil Nadu is a ‘silent performer’ on the industrial front, Velmurugan said. It is one of the best States in terms of overall performance in all major sectors.

The State is top ranked in ten parameters, including the number of factories, the number of operational and exporting Special Economic Zones and skilled manpower availability, he said at a CII conference on ease of doing business in Tamil Nadu on the theme ‘Tamil Nadu, the Land of Opportunities’.

Concurring with Velmurugan’s views, K Ramasamy, Chairman, Roots Group of Companies, Coimbatore, said the company plans to invest ₹138 crore in three greenfield projects that will provide employment to 620 people in a phased manner.

On submitting the applications, the approvals were given in seven days for two projects under the single window clearance and is awaiting no-objection certification from Coimbatore Collector for the third project, he said.

A handout on Tamil Nadu Global Investors Meet 2019 to be held on January 23 and 24 in Chennai says that the State is an ‘economic powerhouse.’

The State contributes 45 per cent of India’s motor vehicle/car exports, accounts for 16 per cent of India’s electronics output and produces nearly 40 per cent of the total yarn in the country. It has the largest talent pool with 570 engineering colleges and over 500 polytechnics.

Contribution to GDP

Tamil Nadu is the second largest contributor to India’s GDP; 10 per cent contribution to country’s industrial output and has 7.7 per cent share in foreign direct investment inflows into the country.

With an installed power capacity of 30,254.54 MW, Tamil Nadu is a power-surplus State. On digital connectivity, the available bandwidth of 14.8 TBPS is the largest in India.

The State government has identified over 200 infrastructure projects targeting investments of around $250 billion, the handout said.