500 traders take part in Villupuram investors meet in Tamil Nadu 

The meet aims to assist several companies to start their businesses in Tamil Nadu, paving way for better employment opportunities.
Higher Education Minister K Ponmudy. (File photo)
Higher Education Minister K Ponmudy. (File photo)

VILLUPURAM: Higher Education Minister K Ponmudy and Minister for Minority Welfare Gingee K S Masthan on Thursday, held a meeting at Villupuram collectorate with traders of the district as a precursor to the Global Investors Meet to be held in the state.

According to an official release, the meet will be held in Chennai on January 7 and 8. The meet aims to assist several companies to start their businesses in Tamil Nadu, paving way for better employment opportunities.

Over 500 small scale and large scale business owners, traders, and investors attended the meeting. MoUs between the companies and the government were signed during the meeting, said official sources. Villupuram Collector C Palani said that the target set for the district to attract industrial investment of Rs 750 crore in conjunction with the Global Investors Meet has been surpassed. As many as 48 companies have signed an MoU with the Tamil Nadu government to invest Rs 1,020 crore which will create employment opportunities for 3,902 people.

Speaking at the conference, minister Ponmudy said, “The government did not just invite entrepreneurs for investment but also took appropriate measures to create a favourable environment for business development. It has simplified the process of getting legal licences to run business and made all the procedures online. It also offers various subsidies like investment subsidy, electricity tariff subsidy, quality certificate subsidy to encourage them. TN provides one of the best business environments in India. Villupuram district is well-positioned to capitalise on the industrial boom in Chennai and its surrounding areas. This district, which has easy access to the export terminal Chennai by road, also has the necessary space for industries.”

Along with the existing SIDCO Industrial Parks at Venmaniyathur and Pattanam, a new SIPCOT complex is also planned, said Ponmudy. Apart from this, a food industrial park will be set up at Tindivanam on behalf of the SIPCOT and a pharmaceutical industrial park on behalf of SIDCO, he said.

Official sources added that the district’s agricultural yield and marine biodiversity have the potential to grow the food processing industry. Clay sculpting, pottery and gold jewellery industries which have flourished here for many years can also be technologically improved through the meet. There is also a possibility of setting up engineering factories to supply original spare parts to automobile manufacturers located in areas adjacent to Chennai, official sources added.

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