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TN govt rubbishes claims of flight of investment

TN govt rubbishes claims of flight of investment Tamil Nadu Government today rejected the opposition’s charge that there is a flight of investment from the state to neighbouring states and asserted that it offered the ‘best business-friendly’ environment.

“In the past three years, Tamil Nadu has attracted Rs 44,402 crore of foreign investments,” Industries Minister P Thangamani told the state Assembly referring to Foreign Investment Statistics of the Centre.

Responding to a calling attention notice, he said the number of industries during the current year had gone up to 42,000 from 40,354 last year, he added.

Similarly, job opportunities had grown from 84.21 lakh (persons) in 2011 to 1.60 crore by the end of the last year.

He asked the opposition parties to name any company that had gone to other states as was alleged by them.

Rubbishing claims that Rs 12,000 crore investment was going the way of Karnataka, he said industry bodies had refuted it affirming that they were happy in Tamil Nadu and asserted that claims like “investments were going to other states” were being made with political motives.

“The fact is only the Hero Motor Cycle company that signed an MoU with Karnataka has gone to Andhra Pradesh. Members should understand that not a single company from here has gone there (Karnataka).”

Referring to an expansion project of Ford (which has its unit here) in Gujarat, the Minister said his government was not responsible for it.

The company, while lauding the state in a letter to the government, had explained that it was due to high freight cost.

“They have said the decision was taken during the previous regime and have also mentioned that it was in tune with their business goals,” he said.

Similarly, Daimler had also thanked the state government for ‘best governance’, he added.