More Opportunities to be created in Madurai

Attracting foreign direct investment (FDI) is the way for developing Madurai. Investment of Rs 1,000-crore will bring additional 30 per cent investment in support services.

For that to happen, Madurai Airport needs to be an operating international airport, said Mr S.R. Nageswaran, Managing Director, ITCOT Consultancy and Services, Chennai, here recently.

Delivering the inaugural address of the Sourashtra Industrial and Trade Conference (SITCON) organised for the first time by Sourashtra Chamber of Commerce, he said Chennai began to develop only after attracting FDI in 1994 with Hyundai and Nokia setting up their plants. Infrastructure development needs to precede such a flow and stakeholders in Madurai should strive to get international status for Madurai Airport.
More opportunities

When such a thing happens, there will be more opportunities for local entrepreneurs, he added.

The Chamber should come out with a compact disc of who's who of the Sourashtra community, as Sourashtra entrepreneurs are spread across the world in different fields.

Source: Hindu Business Line

Potential in Madurai - US/USA/America eyes huge trade opportunity in Madurai, Tier-II and Tier-III cities in India

MADURAI: The United States would focus on tier II and III cities in India for increasing trade as they offer huge business potential, US Commercial Consul for South India Aileen Nandi has said.

"There is huge potential for trade in India in Tier II and Tier III cities and the US Commercial Services (USCS) in India will focus on them," she said at an interaction with members of Madurai District Tiny and Small Scale Industries Association here last evening.

India's exports to the US stand at USD 21 billion per annum while it imports USD 16 billion worth goods from the country, Nandi said, adding that the Indian market was growing at a faster pace.

While textile sector and jewellery form majority of Indian goods headed to the US, aircraft components and medical equipment were most bought items from the America, she said.

She said the US trade was now centered around metros like Delhi and Mumbai, but this would change in due course with the efforts taken by the USCS wherein focus would be given to other cities too.

Overall, the potential for doing business with India was high, though as of now the country stood 13th among business partners of the US, she said.

On import duty, she said USCS had requested the Indian Government to reduce the duty on various products. "At present for any company, the import duty costs around 28 per cent of the product cost and we are working towards bringing it down as Indian market is price sensitive."

On other target areas of USCS, she said it also focussed on student exchange programmes and partnership with educational institutions.

Over the years, the number of Indian students in the US had been surpassed by Chinese students. USCS would work towards taking India back to number one position in this area.

She said energy efficiency was a major area in which her department was focussing in Tamil Nadu. It had been advising on alternative energy solutions, including solar power.

Manufacturers should come up with specific products they would be able to supply when it comes to bilateral trade. The US companies were interested in investing in rubber industries. A delegation in this regard would take part in Rubber India Fair to be held in Chennai next month, she said.

Nandi also said the US Secretary of Commerce would visit India in February acompanied by 74 major US companies. Responding to a request from the Tamil Nadu Chamber of Commerce and Industry, she assured to help if a delegation wanted to visit US to explore opportunities in the US market.

source: t i m e s e c o n o m i c

150 acres of Industrial/Agricultural Land needed in Madurai-Trichy Belt

Isgec John Thompson (IJT), a division of Saraswati Industrial Syndicate Ltd and Foster Wheeler North America Corporation, US, is planning to set up a manufacturing facility for sub-critical and super-critical boilers in Tamil Nadu.

The greenfield project is likely to see an investment of around ' 800 crore.

"We are looking for around 150 acres of land in the Tiruchy-Madurai belt. This is our priority stretch. If we are unable to get the land, our second option will be the Dahej special economic zone in Gujarat," said SP Singh, senior vice president – marketing, IJT.

The company already has a manufacturing facility in the Dahej SEZ. The proposed plant will have an initial annual capacity of 4,000 Mw and can be increased to 8,000 Mw.

If you have this land, please contact for mutual benefit. We (Madurai247.com) are publishing this news for the benefit of Madurai and its improvement.

If we don't act soon, we will loose the industrial opportunity, employment opportunity to Gujarat.

Subway, bridge to replace railway gate in Palanganatham, Madurai

The railway level crossing at Palanganatham will be closed from Wednesday to facilitate construction of a subway and road over-bridge (RoB).

This is an infrastructure item promised recently.

Click here to read more...

Economy of Madurai as of Jan 2010 - a reality check

Please see my previous article about people in madurai and their classification based on salaries. That should tell about the different kinds of people in Madurai.

I have written a similar article in April of 2009 for Economy of Madurai - a reality check in 2009.

At any case - let us check the status now:

One major complaint in Madurai economy is there is no major manufacturing divisions started up. Anything started up recently are retail outlets, refined grocery outlets, service outlets of different companies, shops etc., which sell things, insurance, banking etc.,

Only when there are more than 70% manufacturing companies, then only there is a significant improvement in economy of Madurai. In fact, there is reduction in number of manufacturing companies. On those days, atleast Fenner was great. But there are countable ones - Fenner, TVS companies etc.,

Every individual who works thinks of a secondary income and gets the compulsion of starting off something by himself, while he does the day job. While this happens, they always end up doing only service stuff and they don't create anything.

It is always only a share of existing money in Madurai. Only when outside companies come into Madurai and invest and give employment opportunities to Madurai people then only we get the actual productivity of Madurai and improvement in economy of Madurai.

Anyway, overall - it is good for Madurai's entrepreneurs to grow with new thinking of starting something of their own.

There has to be big companies coming in and giving employment to 100s and 1000s of people in Madurai - then there would be some difference and impact in madurai economy. In fact, any government concentration is only on north and not in southern parts of tamil nadu. If they concentrate, then there would be significant contribution from Madurai and southern districts as well.

Madurai in NASSCOM India city quadrant

Sponsored by OruAcre.com

You can see where Madurai is in the quadrant, prepared by Nasscom, India.
If you are not aware of how to read quadrants. Let me help you -

You need to read from the right top in an anti-clockwise direction.
Leaders, Challengers, Followers and Aspirants.

Madurai is in Tier-II and it has high potential for growth and prosperity. High time improvements in future industries.

I am very excited about this location of Madurai in this quadrant. This is a great input for the reason to buy lands in Madurai.

This message is sponsored by "Sun City Real Estate Agent, Madurai" and "Made in Madurai".