CHENNAI:Union Minister of State for Commerce and Industry, Nirmala Sitharaman on Wednesday hailed Tamil Nadu as an investor- friendly State with lot of opportunities waiting to be tapped.
“I congratulate the State of Tamil Nadu for creating a conducive environment for business. It is a very progressive and proactive State”, she said delivering a special address at the inaugural of Global Investors Meet.
“The response to the investors, very clearly seen here, validates the positive outlook of Tamil Nadu as an investment destination. The State has attracted higher investments than States like Haryana and shown initiative to boost India’s manufacturing sector”, she observed.
Sitharaman said Tamil Nadu had simplified many procedures for making investments which included introduction of single window system, which other States were talking about now.
Listing the Centre’s initiatives like cutting down multiple prior permissions and keeping regulatory mechanism at the minimal level to speed up investment flow, the Union Minister said “we cannot live with red tapism anymore in India if investments have to flow in.”
Stating that 25 thrust areas had been identified under the ‘Make in India’ scheme, she said a professional agency had been engaged to work with Ministries in all these 25 areas.
Referring to a Law Commission recommendation on setting up commercial courts, she said a Bill had been introduced in Parliament, which envisages creating commercial divisions in High Courts with original jurisdiction and commercial courts.