After being postponed twice, Tamil Nadu Chief Minister Jayalalithaa is all set to inaugurate the Global Investors Meet on Wednesday as the government aims to attract investments to the tune of Rs 1 lakh crore.
Over 100 MOUs are expected to be signed in the Global Investors Meet. The meet comes even as Tamil Nadu's competitors like Gujarat, Maharashtra, Andhra Pradesh and Telangana are eyeing big buck investments.
"For long, from the 1950s and 1960s, Tamil Nadu was an industrial friendly state. That is how Tamil Nadu became an industrial and employability of its youth. Lately we have been lagging behind and to that extent efforts like this are welcome. At the same time whichever government is in power, they have to follow continuity in policy. There has to be a lot of infrastructure and movement not only in terms of goods and services but also in terms of paperwork from the authorities. There is feeling that is not happening. If this meet stirs up the official concerned to do something on that lines, then it will take it forward," Director ORF-Chennai N Sathiyamoorthy said.
Business apart, politics is playing out in Tamil Nadu. Opposition parties are questioning the timing of the summit which is coming on close heels of the 2016 assembly elections. The ruling AIADMK has also come under attack for postponing the Global Investors Meet twice in less than a year. But the party has brushed off all critics saying it had to solve the state's power crisis before wooing investors.
"When amma took up Tamil Nadu, there was no power for 14 hours. If industries are going to come, the first thing you have to give them is power. We took 3 years to fulfil this. Now we have excess power. Current problem is solved. We postponed the global investors meet because people have to come from all over the world. At last we have fixed this," AIADMK Spokesperson CR Saraswathi said.
Industry biggies like Reliance Group Chairman Anil Ambani, Adani Group chairman Gautam Adani, Mahindra Group Chairman & Managing Director Anand Mahindra are expected to participate in the meet which will also see more than 5000 delegates from across the world.
With countries like Australia, Canada, Japan, Korea and others partnering in the summit, the event will focus on sectors like automobiles, textiles, IT, heavy engineering and others.
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