Southern states lagging in growth: CIIJune 16th, 2011 - 8:46 pm ICT by IANS
Chennai, June 16 (IANS) The growth rate of gross state domestic product (GSDP) of the four southern states has been slowing down in recent years and requires focused attention on creating physical infrastructure, time management in policy making and implementation, said the Confederation of Indian Industry here Thursday.
Confederation of Indian Industry-Southern Region (CII-SR) chairman T.T. Ashok said: “Tamil Nadu and Andhra Pradesh registered a GSDP growth rate of 7.4 percent while for Kerala and Karnataka it was 8.1 percent and 8.5 percent, respectively. The national GDP growth average is 8.7 percent between 2005-10.”
He said though the four southern states registered impressive performance in various industrial sectors, they did not keep up their pace of growth.
According to him, creating huge physical infrastructure, managing talent availability, time management in policy making and implementation, and building the capacity in industry to move up in the value chain were some of the challenges that were to be addressed to sustain south India’s growth momentum.
He said the industry and the respective state governments should adopt a cluster-based growth approach, bridge physical and social infrastructure gaps and work towards environmental sustainability to ensure the region’s rich potential was well capitalised.
The availability of physical infrastructure (power, roads, cargo handling capacity at ports, cold chains, housing and others) had not kept pace with the demand in recent years, said Ashok.
According to him, the base demand for power in south India would be peaking to around 75 GW in 2020. Meeting this demand will require an investment of $50-70 billion, he added.
According to him, CII-SR’s major initiatives will be the setting up of solar city in Tamil Nadu, Chennai-Bangalore-Hyderabad industrial corridor and setting up of a centre of excellence on skill development here.
He said CII-SR would organise sectoral events like Excon 2011 (construction equipment technology), Foodpro (Food Processing Technology) and manufacturing summits this year to enhance the competitiveness of Indian industry.
- CII to set up control room to monitor projects work (Lead) - Mar 26, 2011
- Growth rate declining in southern states: Report - Mar 26, 2011
- CII to set up leadership institute in Tamil Nadu - Jun 14, 2010
- 'Construction equipment industry needs more skilled workforce' - Nov 26, 2011
- CII demands Rs.50 bn for Technology Upgradation Fund Scheme - Feb 16, 2010
- Construction equipment industry eyes $23 billion revenues - Nov 22, 2011
- Infrastructure players await policy reforms to spur growth - Nov 23, 2011
- Infosys targets five percent revenue from government contracts - Jun 14, 2010
- Karnataka should create jobs than seek investments: India Inc - Mar 15, 2012
- 'India, China to drive global construction equipment industry growth' - Nov 24, 2011
- Japanese firms to increase investment in Tamil Nadu - Jan 25, 2012
- Infrastructure key to India's growth: ONGC chief - Nov 18, 2010
- 'Budget in right direction but short on growth incentives' - Mar 16, 2012
- Connect 2011 to start in Chennai Dec 20 - Nov 28, 2011
- CII's Partnership Summit to discuss global economic challenges - Jan 18, 2010
Tags: ashok, cargo handling, centre of excellence, cold chains, confederation of indian industry, environmental sustainability, excon, gdp growth, gross state, growth momentum, impressive performance, industrial corridor, industrial sectors, national gdp, physical infrastructure, social infrastructure, solar city, south india, state governments, tamil nadu