HYDERABAD: Tamil Nadu Minister for Law and Information Technology D. Jayakumar said the State was "anointed" the Asian Region of the Future by Hong Kong-based international magazine, FDI, even as India was being acclaimed as the chosen nation of the 21st century.

Speaking at an interactive session with non-resident Indians (NRIs) at Pravasi Bharatiya Divas here on Sunday, he said that while leading the way forward in investment in the manufacturing and services sectors, the State laid the foundation of development on the bedrock of culture and values.

Power inexpensive

Pointing out that the growth rate of Tamil Nadu economy had been 8.73 per cent in 2004-05, one per cent above the growth rate of Indian economy during the same period, he said it had world class infrastructure, healthcare facilities, largest IT bandwidth connectivity, excellent schooling and housing facilities, besides rich cultural and literary tradition.

Mr. Jayakumar said prime land was available in Special Economic Zone, power was inexpensive and there was no water shortage.

Investments in Karnataka

Karnataka Minister for Finance and Planning P.G.R. Sindhia said that since the assumption of office by the coalition Government in May 2004, several initiatives were taken to project Karnataka as a favoured investment destination.

The total investments approved in large, medium and tiny industries were of the order of U.S. $ 17.353 billion in this period.

It was proposed to spend Rs. 10,000 crores in developing infrastructure in Bangalore in the coming months.

Tourism in Rajasthan

Rajasthan Industries Minister N. S. Rajvi said tourism was one of the thrust areas in his State and a scheme for adopting a monument had been launched.

West Bengal Chief Secretary said the State was one of the fastest growing States and explained various initiatives taken up by the Government.

There was great opportunity in housing and real estate, he said.

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