Chennai, Dec 19 (KNN) The Tamil Nadu government is working to improve facilities for the micro, small and medium enterprises (MSME) sector, moving towards being a knowledge economy, and becoming a research & development hub, Industries minister T. R. B. Rajaa, said on Monday.

Speaking at the Business Standard’s Tamil Nadu Round Table 2023, the minister, said, “We are coming up with a knowledge city in Chennai. We will see some big players coming to the city by the end of next year.”

As per reports, the state is reported to be planning the Tamil Nadu Knowledge City (TKC) on 1,424 acres in Uthukottai taluk and Vengal village in Tiruvallur district.

At the event, the minister added that industrial ecosystem is flourishing due to its vast talent pool, better infrastructure and enabling ecosystem, along with policy continuity.

“First, it’s the talent pool. We are the talent powerhouse of India, producing around 150,000 engineers annually. With such abundant talent, the industrial ecosystem flourishes naturally. Now, we are also tailoring that talent to industry’s needs. Infrastructure and single-window clearance have also acted as catalysts,” he said.

At a time when Tamil Nadu is preparing to attract fresh investments with a global investors meet next month, the summit, held in Chennai, showcased the state’s growth story and plans for the future.

Rajaa also highlighted policy continuity as another major attraction for industry. “Despite regime changes, Tamil Nadu has consistently adhered to policy continuity. Each regime aims to improve conditions for industry. Investors view this as a big positive,” he added.

On investments, Minister Rajaa said the state would be choosy. "When we give incentives, we will choose who invests and what kind of jobs are created,” he said.

Talking about “the Dravidian economy” in a fireside chat at the summit, the minister pointed out that inclusivity, diversity, equitable growth and redistributed growth were the main drivers of the model.

The summit, called ‘Tamil Nadu: India’s Rising Industrial Power’ featured two other sessions.

The first, focusing on the state as India’s advanced manufacturing hub, saw participation from Hyundai Motor India, Nokia, Tamil Nadu Industrial Investment Corporation and Refex Group. The second, a panel discussion on how fintech and global capacity centres (GCCs) are driving innovation, had participants from Walmart, World Bank, Indian Bank, Yubi, Kaleidofin and BRK Soft.

(KNN Bureau)