CII urges Tamil Nadu govt to set up fintech city – Times of India

CHENNAI: The Confederation of Indian Industry (CII) has urged Tamil Nadu finance minister Dr P T R Palanivel Thiagarajan to revive the fintech city project in the state.
In an interaction with the minister, C K Ranganathan, chairman, CII southern region, thanked the state government for its proactive policies to ensure business continuity in this challenging times.
Ranganathan said Tamil Nadu had a vibrant ecosystem to attract investment in the banking and financial services sectors. He urged the government to revive the fintech city project in the state, which is a dream of chief minister M K Stalin.
In his address, the minister said the state government’s approach would be more inclusive in taking all the policy decisions. The state has to take its first position in the growth rate at country level, for which the government will initiate more proactive measures.
He said that fixing the financial position of the state to the right path, increasing the state’s contribution to the National GDP from 10% to 14-15%, reducing the interest payment of the state are the priorities for the present government. Further, he said that safeguarding MSMEs and improving the EoDB would attract more investment and generate employment opportunities in the state. Being an investor friendly state, Tamil Nadu will approach new investors and increase the public private partnerships ventures in the state, he added.
Senior members of the CII made suggestions like a 50% reduction in road tax to give a boost to automobile sales in the state, restructuring of MSME loans, digitalisation of vehicle registration in order to ensure efficiency and transparency.
The minister has assured CII members that he will take up the suggestions and also discuss with concerned ministries and would do the needful, a press release said.