COIMBATORE: The industrialists from Coimbatore district have welcomed the announcements made for the industrial sector by Finance Minister Palanivel Thiaga Rajan during his budget presentation at the assembly on Monday.
The minister has announced Tamil Nadu Tech City (TNTech City) in three places, which include Coimbatore, Hosur and Chennai to promote Tamil Nadu as a global hub for Information Technology and to meet the increasing demand for quality office space.
Apart from that, new industrial parks will be developed in Virudhunagar, Vellore, Kallakurichi, and Coimbatore at an estimated cost of Rs 410 crore for providing employment opportunities to nearly 22,000 persons. An allocation of Rs 3,268 crore has been made to the Industries Department in this Budget.
Speaking to TNIE, CODISSIA (Coimbatore District Small Industries Association) president V Thiurgnanam welcomed the budget and said that the announcements will generate more job opportunities for the unemployed youths in the district.
"Our youth can work in their hometown instead of going in search of jobs in the IT sectors in Chennai, Bengaluru and Hyderabad, due to the announcement of the TNTech City project. This will revolutionise the IT industry in Coimbatore. We appreciate the government's efforts taken for skill development in the state. Upgrading the polytechnics as centres of excellence at Rs 2,783 crore is very vital for the Industry 4.0 trend. The government didn't make any announcement in regards to the interest subvention which is a bit disappointing for us," he added.
Similarly, the Federation of Coimbatore Industries Associations (FOCIA) coordinator and Tamil Nadu Association of Cottage and Tiny & Micro Entrepreneurship (TACT) Coimbatore district president J James told TNIE that the government's announcement of allocating Rs 1,509 for the MSME Department and the medical assistance welfare schemes for the migrant labourers working in the industries is appreciable.
"Although the majority of the announcements are from the development perspective, we industrialists are a bit disappointed as the government didn't revoke the hiked electricity tariff for industries and there was no announcement regarding the MSME park," he added.
The Indian Chamber of Commerce and Industry Coimbatore district president B Sriramalu said that the chamber welcomes the seven key announcements made in the budget, including the metro rail, Semmozhi Poonga, and announcement for targeting bank loans to the tune of Rs 30,000 crore for Women self-help groups.
Ravi Sam, Chairman, The Southern India Mills' Association (SIMA) has said that the announcements through the budget are initiatives in the right direction, specifically the announcements to set up new SIPCOT industrial parks, which is the need of the hour. Sam has appreciated the announcement regarding scaling up skill training infrastructure in a massive way, where factories have been proposed to be used as Skill Development Centres.
South India Engineering and Manufacturing Association President T Vignesh also hailed the budget announcements of Coimbatore Metro Rail project, Semmozhi Poonga, fund allocation for MSME department among others.