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Tamil Nadu is second largest economy in India: Mr M C Sampath, Minister for Industries, Government of Tamil Nadu
Sep 20, 2019

Tamil Nadu has attracted a record $ 29,848 million of FDI and thus emerged as the fourth largest destination on that count, claimed Mr M C Sampath, Minister for Industries, Government of Tamil Nadu. Inaugurating the 7th edition of International Brand Summit organized by the Confederation of Indian Industry (CII) on the theme Building Brands Across Generations here on Friday, he said the state had become second in overall ranking and first in investment potential among other Indian states as also the number one destination in performance.

He also cited the state government's initiatives to promote sectors like e-vehicle manufacturing, electronics, hardware and software, food processing, aircraft MRO facilities among several others and the recently launched EV policy that would be counted upon as the best move to safeguard the environment form the increasing pollution. The Minister further said that Chennai as the automobile hub had made a mark in terms of producing 65 per cent of heavy vehicles in the country besides providing lakhs of jobs in the sector.

“Tamil Nadu is the second largest state economy in India, contributing 8.4 per cent to the nation's GDP,'' he said and added, The team led by Chief Minister Edappadi K Palaniswami to the UK, USA and Dubai recently had met with enormous success with a large number of foreign investors expressing their desire to start their business in the state what with the conducive industrial climate prevailing here.''

He noted that the proposed Chennai - Kanyakumari industrial park would leverage all types of industrial growth, besides creating jobs to several people across the spectrum. 

Sadguru Jaggi Vasudev, Founder, Isha Foundation, in his video message, said that his recent mission Cauvery Calling had already acquired the brand image and value in that many people had joined the movement to save the mighty river for the benefit of people of the country.

Srinivasan K Swamy, Chairman, CII International Brand Summit and CMD, RK Swamy BBDO, dwelt at length on the various aspects of building brands across generations by giving examples of how some product majors had reinvented themselves to sustain their image value in the market which had been subject to severe competitions from time to time.

He also said that four out of five brands died within five years and wanted the companies to make use of the changing market situations and keep the people connected to their products as brands always outlived generations and remained inherently fragile.

Sanjay Jayavarthanavelu, Chairman, CII Southern Region and CMD, Lakshmi Machine Works, outlined the importance of brand image for its incredible valuation and lauded the efforts of the Tamil Nadu government in making use of the wisdom industry bodies like CII in matters relating to the healthy growth of the state economy with a pointed reference to the CII's Centre of Excellence to improve the prospects of industries across all verticals.

20 September 2019

Chennai 

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