CHENNAI: In a bid to facilitate more investment especially in central and southern districts of Tamil Nadu, and to ensure equitable growth, the Tamil Nadu chapter of Confederation of Indian Industry (CII) submitted the pre-budget recommendations to State Finance Minister Dr Palanivel Thiaga Rajan for Tamil Nadu Budget 2022-23.
The recommendations stressed on the need for focus on Micro, Small and Medium Enterprises (MSMEs) sector as it ensures job opportunities in the State which is the need of the hour. Further, the MSMEs also need a special helping hand and should be exempted from approvals and inspections for the next three years under the State laws.
As Hosur is emerging as an electronics hub of TN there is a need for a well-developed infrastructure with a 10-15 year long-term growth perspective. Without achieving self-sustenance in electronics, the growth of many other industries may not be possible, CII stated.
The trade chamber urged the need for fast-tracking investments in the electronic sector. CII also recommends establishing more specialised recycling centres for vehicle scrapping.
Urging TN to establish a bulk drug park, CII asked the minister to focus on bringing new investment in the chemical and pharmaceutical sector.