Chennai: Over the next five years, Tamil Nadu has the potential to create more than 90 lakh jobs, attract investments of around Rs 22 lakh crore and log double digit growth, a study by industry body Assocham states.
The Associated Chambers of Commerce and Industry of India (Assocham) and Madras Chamber of Commerce and Industry (MCCI) on Tuesday released a paper titled ‘Action Agenda for New Government of Tamil Nadu’ here.
According to the paper, Tamil Nadu had attracted investments worth over Rs 11 lakh crore between 2006-07 and 2015-16.
“Effective implementation of the investment projects holds key to growth of industry sector that will in turn help in creating lakhs of fresh job opportunities for 29 per cent of youth population that forms the workforce in the state,” the paper said.
On the agriculture side the paper suggested that the state government should look at doubling the output to five per cent to increase food grain production to 170 lakh tonne.
As the state is not well endowed with water resources, Tamil Nadu should focus on water shed management, water conservation, dry land farming and other techniques.
Highlighting that industrial growth in Tamil Nadu had declined from 11 per cent in the Tenth Plan period (2002-07) to about eight per cent in 11th Plan (2007-12), despite the state being a leading manufacturer of automobile, textile, hosiery, pharma, leather, information technology (IT) and information technology-based enable services (ITeS).
According to the paper, the state should revive traditional labour-intensive industries of textiles, garments, leather, matches, fireworks and others comprising large number of small-scale industries.
Besides, significant industries in sectors like automobile, chemical and transport equipment are facing infrastructure, environment and labour-related issues in Tamil Nadu. The state needs to address these issues on an urgent basis.