Puducherry witnesses a five-year-high investment of ₹641 crore till August this year
The Hindu
Puducherry has seen a record-high in private investments, with 44 proposals for ₹641.22 crore, creating 1,619 jobs. Major investments include Chemfab Alkalis Karaikal, Gokulam Marine Export, SS Pack Care, and Shashi Distilleries. From 2018-2023, 466 industrial ventures have invested ₹1,652.24 crore, providing employment to 6,586 people. The govt. is taking steps to improve the industrial scenario, such as introducing the Puducherry Ease of Doing Business Bill & exempting MSMEs from approvals/clearances/licenses for 3 yrs. Streamlining of the system & master plan for land & power also needed.
The Union Territory has witnessed a record uptick in private investments, with some of the existing industrial units going for major expansion drives and new firms setting up shop in Puducherry and Karaikal regions, in the first few months of the current year.
Statistics gathered from the Industries Department revealed that till August, the government had received 44 proposals for a total investment of ₹641. 22 crore, which is the highest recorded in the last five years. “The data is regarding proposals received through the Industrial Guidance Bureau. It is pertaining to the expansion of existing units as well for new ventures. The proposals received this year alone will fetch a direct employment for 1,619 persons,” a senior official told The Hindu.
The bulk of the investment this year was by Chemfab Alkalis Karaikal Limited in T.R. Pattinam in Karaikal region. The company itself will be investing around ₹400 crore for a chlor-alkali caustic soda unit and desalination plant.
The other major investments are by Gokulam Marine Export Private Limited for its pasteurised and chilled crab meat unit in Villianur, SS Pack Care for expanded polyethene foam manufacturing unit also at Villianur, and Shashi Distilleries Private Limited for an Indian made foreign liquor (IMFL) unit at Yanam.
Data with the department showed that in 2022-23, the region recorded an investment of ₹325.79 crore by around 70 units with total employment generation to 2,587 people.
While in 2020-21, the Union Territory received a total investment of ₹269 crore from 73 new units, providing employment to 1,206 people, in 2021-22, the region attracted ₹206 crore in investments from 76 firms, giving jobs to 2,184. From 2018 to August 2023, Puducherry has received a total investment of ₹1,652.24 crore from 466 industrial ventures.
The government is expecting more investments in the coming months, with the Union Ministry of Home Affairs (MHA) giving the nod to utilise around 700 acres of land at Sedarapet-Karasur for industrial purposes. After obtaining the clearance from the Ministry, the government had set in motion the process to establish a multi-modal industrial park in a plug-and-play model in Sedarapet-Karasur area. It will be developed through the Pondicherry Industrial Promotion Development and Investment Corporation (PIPDIC) Limited, the official said.
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