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Reform this licence to…kill Need plan over the long term planning TN - so much to offer... A blueprint for the future Breaking news or breaking credibility? Much can be done by us BJP can now hasten its thrust for reforms Cleansing Indian retail Rail-road Rajaraman A tale of two Bihar babus Truce at Kasturi Buildings An eventful week with VVIPs of Delhi A gratifying record Better relations with UK... Oh my GOLD Skewed Economic Zones? The Great Fall Indian GST – Between extremes… In the horns of a dilemma What the big B should offer? Sustainably developing manufacturing sector… Need for radical RBI reform A Fine division of responsibilities Focus on agriculture and human resources Public investments and welfare will surge An eco-friendly commute in Mysuru A dual GST that will protect prosperous states Deming awardees galore! Welcome Measures. Work for 10X Change PC please be our Santa When the examiner cheated... MS Installed You too T M Krishna? If not Tamil Nadu, where else? Healthy finances of the Chennai Corporation Low profile moves Welcome move to widen the tax net… Sowing seeds of hope Much ado about nothing Jobs - Lost, Changed or Gained Policy Makers A historic indirect tax reform Research for survival... They add lustre to Padma Awards Tax evaders’ get out of Jail-Free Card South India’s 100 most valuable companies Little surplus after salaries, subsidies and debt servicing Technology and economic development should be linked Why (not) abolish? Well-administered State Babes In the wood-RBI North block has little clue to curb inflation After all, customer is the king Economy through the month Strategic planning the missing link Tryst with GST Wanted: decentralised financial system 1800 parties registered with EC – Less than 60 contest elections It’s raining funds for states. Really? Sardar Sarovar – the seventy year itch Weaving wealth of western Tamil Nadu Kudos to GIM organisers... How will it PAN OUT Babes In the wood-RBI North block has little clue to curb inflation No groundnuts in groundnut oil! Chennai Airport-Ready for a rapid take off... Trail-blazing Tamil Nadu Welcome rains for damaged roads... Outward ho CSR, tech revolution and bank crisis Focus on southern TN... Make way for Make in India... Why throw baby with bath water? CAD and the emergency thereof Star of the South Pool energy prices INDIA keeps its date with destiny The deluge and the several kindly souls Miles to go... Ganesh’s mantras Two welcome measures from the chief minister... Land, land everywhere, but... Industry can’t get it from Mars, yet
 
Trail-blazing Tamil Nadu
On the southern tip of the Indian map lies Tamil Nadu: a State that has an exciting tradition of civilisation and culture that meshes seamlessly with modern industrial development. Home to enterprising entrepreneurs who belie their conservatism with the hot pace of growth they set. It’s a State that has done for itself very well. It can do still better as the Vision 2023 document envisages.

Tamil Nadu is one of India’s economically advanced states. Not just now; even in the past. Turn to history for proof.

Almost 70 years ago, at the crack of Independence, Tamil Nadu had several industrial units cutting across the state with Madras (now Chennai), Madurai and Coimbatore being the jewels in the crown.

Coimbatore in Western Tamil Nadu had a strong textile and supporting engineering industry. So did Madurai in the south. Chennai had its own rich cluster of industries:  Textile (B&C Mills/Binny) and engineering (Best & Co, Crompton Engineering, Parrys, Simpsons), to name a couple.

The start was good. But it needed progressive and visionary administration to take it forward. Luckily we had such an administration which introduced a slew of investment-friendly policies that drew out and encouraged new generations of entrepreneurs.

Look at the innovation: the Madras Industrial Investment Corporation (now TIIC), set up in 1949,  pioneered development finance. TIIC not only funded industries through term loans, it also extended equity support. In an investment-shy region this was like manna from heaven. In the entrepreneur’s mindset, equity was cheaper than debt!  And most start-ups didn’t have much anyway! The floodgates opened. Hundreds of units were set up in textiles, sugar, cement and other traditional sectors as also in entirely new areas such as aluminium, viscose, staple fibre and paper. So dynamic was TIIC that it later amended its Memorandum and Articles of Association to extend financial and equity assistance to shipping, recognising it as an industry!

The state helped businessmen engaged in trading to seamlessly transition to manufacturing. It was thus the dealers and distributors of popular, imported brands of bicycles, motor cycles and passenger cars, set up manufacturing facilities in collaboration with their principals, mostly in the UK. When the base expanded to the production of commercial vehicles and later tractors, it was a trigger for the mushrooming of a number of auto component manufacturing units. In quick time Chennai emerged strong in the engineering sector and earned the reputation as a strong centre for automobile and auto component manufacture. Along with these grew a flourishing services sector offering, among others, financial services and insurance.

And then the economy opened up in 1991. India shed itself free of Nehruvian socialism and married market economy. Tamil Nadu was ready for the giant leap forward as it had already built a strong base and this came in handy to carry out large volume production.

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