Tamil Nadu - Madurai   

“FDI must for Madurai”

— Photo: G. Moorthy.

HONOUR:S. R. Nageshwaran, third from right, Managing Director of ITCOT Consultancy and Services, presenting a trophy to K. V. Bala, Chairman, Indowind Energy, in the city on Saturday.

MADURAI: Madurai required a big ticket foreign direct investment to accelerate development, said S. R. Nageshwaran, Managing Director of ITCOT Consultancy and Services, on Saturday.

Inaugurating the Sourashtra industrial trade conference, organised by Sourashtra Chamber of Commerce here, Mr. Nageshwaran recalled how Chennai attained the status of the most developed city in Asia following the first FDI in 1994. When FDI came to Madurai, opportunities would come knocking at its doors, he said.

The ITCOT MD called upon all stakeholders to get international airport status for Madurai. This would bring FDI to the region around which service and support industries started by local entrepreneurs would flourish. He was of the view that one FDI of Rs.1000 crore would be enough to attract many and support industries around it would grow to the level of 30 per cent of the investment. He wanted the Sourashtra Chamber of Commerce to come out with a compact disc on who's who of the community as Sourashtra entrepreneurs were spread across the world in different fields. He also presented the SITCON Star award to K. V. Bala, Chairman, Indowind Energy.

The former MP, A. G. S. Rambabu, called upon people from all sections to work hard to regain Madurai's glory. He suggested that a cooperative venture in the field of information technology could be started here by people belonging to Sourashtra community by pooling in the abundant human resources spread across the world. The senior president of Tamil Nadu Chamber of Commerce and Industry, S. Rethinavelu, said that the youth should strive to become employers and not employees. N. Somasundaram, president, Madurai District Tiny and Small Scale Industries' Association, called for more women to taken up entrepreneurship.

C. K. Sekar, president of the chamber, presided the inaugural session of conference. K. K. G. Prabhakaran, general secretary, spoke about the objectives of the meet.

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