No Scope for IT Industry - Dont waste your Money - TN Govt Announced!!!

[Kalyan]

We don't need IT investments, says TN minister

In a comment that flustered bureaucrats and flew in the face of Tamil Nadu's stated IT policy, the DMK-led government's minister for power Arcot N Veeraswami on Friday told overseas Indians that there was no scope for the IT industry in the state, and that they should consider investing in sectors like steel, cement and automobiles.

    "There's no scope for IT industry in Tamil Nadu. I am telling you the facts. Please don't waste your money," Veeraswami told NRIs at the seventh edition of the Pravasi Bharatiya Divas (PBD) at the Chennai Trade Centre. Discomfited officials flanking him unsuccessfully tried salvaging the situation.

    Ironically, the state's IT portfolio is held by chief minister M Karunanidhi, a huge votary of IT as a growth engine. Recently, he unveiled an IT policy to promote Information Technology in the state. The IT and communications portfolio at the Centre has been with the DMK since 2004.

    "Tamil Nadu doesn't need any more investment in the IT sector. If you want, invest in steel, cement, automobiles, electronics hardware, and even the brick industry. The IT industry is no longer good. It has become dull. After US recession, more than 50% companies on Rajiv Gandhi Salai (Old Mahabalipuram Road) have closed," Veeraswami said.

    Many of those present at the session appeared shocked by the minister's comments. Tamil Nadu's IT secretary PWC Dawidar, however, sought to explain that the IT sector was yet to feel the impact of slowdown.

Veeraswami promises help to investors
Chennai: State power minister Arcot Veeraswami on Friday insisted that prospective investors could choose from a host of other sectors like automobiles, steel, cement, leather, textile, paper, cement and even brick. "The state government is willing to help if you want to invest in Tamil Nadu," he said, but added a rider, "It depends on the industry you want to invest in." The industries mentioned by him, he said, won't be affected for the next 25 years.

    IT has been the backbone of Tamil Nadu's industrial growth. With software exports of over Rs 28,000 crore in 2007-08 providing thousands of jobs, the IT industry has been the plinth of the state's development for over a decade.
    Tamil Nadu is in the process of setting up five Tidel Parks across the state. The Electronics Corporation of Tamil Nadu (ELCOT) recently allotted lands to various IT companies in Madurai.

'There is no scope for the IT industry

    'in Tamil Nadu. I am telling you the facts. Please don't waste your money A Veeraswami