COIMBATORE: Industrialists in Gujarat are ready to invest Rs 20,000 crore in Tamil Nadu, said TN minister for industries M C Sampath on Sunday.

Addressing a road show here for the Global Investors Meet to be held in Chennai on January 23 and 24, the minister said, When we visited Ahmedabad in Gujarat as part of GIM, industrialists there expressed readiness to invest Rs 20,000 crore to in the state.

Tamil Nadu expects investments from sectors like information technology, hardware, software, automobiles, petrochemicals, agro business, food processing, textiles and leather during the GIM 2019 .

Sampath said ministers and officials had also travelled to countries like the US, Thailand, Taiwan France, Japan and Dubai to attract investments.

He said the state had separate schemes for mega, ultra-mega and super-mega investments based on the based on the volume of investment and number of workers. “Under these schemes, we would give GST incentives to investors. Currently we are holding one-to-one talks with industries,” said Sampath.

Minister for rural industries P Benjamin said the state was expecting to attract almost twice investments as that from the last GIM. He said the state had been promoting MSMEs by amending the Tender Transparency Act to make public sector undertakings and government departments to make 25% of their procurement of products and services from MSMEs.

“The state would also set up an Exclusive MSME trade and investment promotions bureau,” he said.

“The government is expecting Rs 3,000crore worth investment from micro, small and medium industries in Coimbatore district,” he said.

Minster for municipal administration S P Velumani, secretary to MSME department Dharmendra Pratap Yadav, additional chief secretary to government K Gnanadesikan were among those present at the event.

