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Newly created Andhra Pradesh is gaining while Tamil Nadu is losing out in Industrial investment; FICCI expresses concern

Chennai and Ennore ports in Tamil Nadu are losing out while Sri City and Krishnapatnam port in neighbouring Andhra Pradesh are gaining ground in attracting trade and investment. Multinational automobile units for which TN has world class infrastructure are shifting to the neighbouring state, the state council of Federation of Indian Chambers of commerce and industry said.

The Industry is concerned over the uncertain political climate in the state for the last several months Nr Ar Rm.Arun Chairman of the Council said in a statement.

The state has the reputation for political stability but recent developments have given the industry cause for concern on the way forward.

He was obviously referring to events of last two years ever since former chief minister Jayalalitha was convicted by a trial court, her death following two month long treatment and the instablity in the party after her death and the impact on industrial investment.

The trade body has opined that Tamil Nadu faced issues relating to water and transportation apart from communication and power. Ideally basic necessities like water and transportation should not be an issue.

Modern solutions like desalination, recycling and user charges should be utilised to tackle the shortage. The traffic issues faced in urban areas of the state should be addressed through levy of congestion surcharge and improved public transport system Mr Arun said while addressing the state council meeting.

Tamil Nadu which used to be leader in manufacturing in the country is currently processing investment proposals worth Rs two thousand crores including a five hundred crore investment by Yamahar Musicals, according to Tamil Nadu Industrial guidance and Export Promotion bureau, the first point of call for investment applications.

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