The record
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- K. Annamalai questioned why Chief Minister C. Joseph Vijay visited London to seek industrial investment for Tamil Nadu.
- He described London as a failing economy and argued that it lacks the necessary funds for such investment.
- The politician suggested that the state government should instead focus on providing tax incentives to domestic industrialists in cities like Coimbatore, Madurai, and Thoothukudi.
- Encouraging local investment is proposed as a more effective strategy for state economic growth.
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K. Annamalai
2 quotes · 1 outlet
“When England does not have enough funds for its own development, how can the country give investment for Tamil Nadu.”
In the article
…in Tamil Nadu. Addressing a meeting organised by his organisation in Madurai, he said England has seen seven Prime Ministers in the last 10 years due to economic instability. “Its economy development was just 1%. When England does not have enough funds for its own development, how can the country give investment for Tamil Nadu. Only the subsidiaries of Indian corporates there could give money to Tamil Nadu” he contended. Mr. Annamalai said Indian giants have been investing in London in the last five years. Instead the Chief Minister should go…
“Instead the Chief Minister should go to Coimbatore, Madurai and Thoothukudi and tell the industrialists to expand their industrial units with an assurance of 50% tax subsidy, he suggested.”
In the article
…give investment for Tamil Nadu. Only the subsidiaries of Indian corporates there could give money to Tamil Nadu” he contended. Mr. Annamalai said Indian giants have been investing in London in the last five years. Instead the Chief Minister should go to Coimbatore, Madurai and Thoothukudi and tell the industrialists to expand their industrial units with an assurance of 50% tax subsidy, he suggested. This way the State Government could give impetus to groundnut cookies manufacturers, automobile manufacturers, spinning mills. “You should encourage the domestic industrialists who are eager to make their investments…
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Named India · United Kingdom · Coimbatore · London · Madurai · Tamil Nadu · Thoothukudi · Vaigai · C. Joseph Vijay · K Annamalai · We The Leaders
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