Surana & Surana Knowledge Series seminar organised by Surana & Surana International Attorneys on The New Tamil Nadu Industrial Policy 2021 & MSME Policy 2021.
Surana & Surana International Attorneys held their first live seminar under the Knowledge Series, on “The New Industrial Policy 2021” and “MSME Policy 2021” for the state of Tamil Nadu, on February 27, 2021.
Presented by the firm’s Partner Sanjay Mehta who analysed the various salient features of the two policies, the session was followed by individual takes on the policy by Mr. S. Rajasekaran, National President, NIQR, President, SIPCOT Irungattukottai Manufacturers Association (SIMA) & Managing Director, Infant Engineers Pvt Ltd; Mr. K. Suresh, President & CEO, India Cements Capital Ltd & President Elect, Hindustan Chamber of Commerce; Ms. Chitra Alai, General Manager, SIDBI; Mr. K E Raghunathan, Convenor, Consortium of Indian Associations & Past National President, AIMO and Mr. M V Subramanian – Managing Director, Future Focus Infotech Ltd & Chairman – SICCI Technology Committee. The panel discussion was moderated by the firm’s Partner Kalyan Jhabakh.
“Tamil Nadu has been a pioneer in the cluster based development model in India. The State has had a tradition of peaceful co-existence, freedom of doing business, assimilation of people from different geographies and cultures a penchant for education, intellectual pursuits, traditional values, entrepreneurship and all those facts that attract talent, capital and prosperity. There is a new realization. For over 25 years we believed that attracting big investors and OEMs will bring in the smaller players MSMEs – Ford / Hyundai / Renault / Nissan / Infosys / Wipro / TCS and so on. Today, the thinking has changed. Research shows that a vibrant MSME based economic system will attract bigger players and the recent two policies reflect this thinking.
“Every few years, the Government at the State & National level bring out a policy to redirect focus, finance and energies in a direction which is expected to deliver the maximum development in the least time. This has been one of the key reasons for Tamil Nadu’s Leadership position in India.
“The latest policies expect harness the power of innovation of the MSMEs and of mega investments in sunrise sectors like Aerospace, Defence, Electronics, Electric Vehicles, Autonomous Vehicles and drones, futuristic battery technologies, speciality chemicals, Bio-Tech, etc., so that jobs and prosperity continue to flourish in this State for the next 25 years.
“Two points that catch my attention specifically are (i) a renewed emphasis on the EODB & (ii) taking advantage of the COVID disruptions and International geopolitical situation to incentivize companies to move their operations to Tamil Nadu in order to become a global supply hub,” said Dr. Vinod Surana, Managing Partner and CEO, Surana & Surana International Attorneys.