With a new government in place, Tamil Nadu industrialists hope that it will give impetus to Small and Medium Enterprises and accelerate regulatory approvals.

Addressing media persons recently, SG Prabhakharan, President, Madras Chamber of Commerce and Industry, said the government should bring policies that nurture SMEs, which are one of the major employment generators, for overall development.

Currently policy issues like taxation, power, lack of infrastructure and connectivity affect the growth of SME sector, especially enterprises that cater to manufacturing industry.

Skill development should be another focus area as employability of graduates is low.

To bridge the gap, the chamber is skilling engineering graduates in etiquettes and communication.

Tamil Nadu is endowed with robust port, air and road infrastructure and has over dozen potential sectors like textiles, film industry, education and energy.

 “We should use this to our advantage to attract more investments,” Prabhakharan said. To become a globally competitive economy, regulatory process should be streamlined and create an environment conducive for industries. Also, more investment for ports, industrial townships, modern cities and regulated water supply over next few years will help in the industrial development.

“First priority of any company that wants to set up a plant is regulated power supply. Though we have enough power now, the government should ensure that it is continued,” he added.

Apart from infrastructure and power, industry feels emphasis should be given to implementation of Goods and Services Tax (GST).

“Tamil Nadu is not only a manufacturing hub but also one of the highest consumers. So, GST will benefit both industries and common man in Tamil Nadu,” he added.

Source: Business Linea