The plan to set up a financial city near Chennai has received a boost with State Finance Secretary K Shanmugam stating that the Tamil Nadu Government was actively considering the proposal. He was speaking on the sidelines of the Federation Sector Conclave organised by the Federation of Indian Chambers of Commerce and Industry and Hindustan Chamber of Commerce here recently.
The statement also comes in the wake of business chambers urging the State Government to set up a financial city, as it would turn the city into a hub for the financial world, besides accelerating the realisation of Vision 2023.
R Subramanian, president of Hindustan Chamber of Commerce said that Chennai was the hub of activity and best for financial development. He also felt that the government should come forward to create a financial city as it could serve as a link for global financial markets between Singapore and Hong Kong. He also emphasised the need to create a township for the financial city that could serve as a offshore facility for the financial city.