‘Cor­rup­tion keeps FDI away from Tamil Nadu’

Millennium Post - - Around Town - OUR COR­RE­SPON­DENT

COR­RUP­TION is one of the main rea­sons which keep for­eign di­rect in­vest­ment (FDI) away from Tamil Nadu, ac­cord­ing to Dr G Viswanathan, Chan­cel­lor of Vel­lore In­sti­tute of Tech­nol­ogy, Vel­lore. Though the labour re­la­tions are good in Tamil Nadu, cor­rup­tion has made many for­eign in­vestors hes­i­tate to set up in­dus­tries in Tamil Nadu. In­stead, they have di­verted their in­vest­ments to neigh­bour­ing states such as Andhra Pradesh and Te­lan­gana where the cli­mate was con­ducive to set­ting up in­dus­tries, he said.

Dr Viswanathan was pre­sid­ing over the func­tion where P S Dasarathy, Ex­ec­u­tive Di­rec­tor of Turbo En­ergy Ltd. de­liv­ered the 17th an­nual T.S. San­thanam Memo­rial Lec­ture in hon­our of late T.S. San­thanam, in­dus­tri­al­ist and one of the sons of late T.v.sundaram Iyengar, the doyen of the au­to­mo­bile in­dus­try in In­dia, at the VIT cam­pus here.

The VIT Chan­cel­lor said that In­dia was high on the cor­rup­tion in­dex among the 16 Asians coun­tries, ac­cord­ing to a re­search re­port. He called upon the present and fu­ture gen­er­a­tions of youth to es­chew cor­rup­tion and find ways of in­creas­ing pro­duc­tion. “Though In­dia oc­cu­pied the 10th place among the 93 coun­tries hav­ing the largest num­ber of in­dus­tries, it had to im­port petrol, gold, ma­chin­ery, chem­i­cal fer­til­iz­ers and pa­per, lead­ing to a large outgo of for­eign ex­change. Un­der th­ese cir­cum­stances, the Make In In­dia ini­tia­tive has re­sulted in start­ing of many new pro­duc­tion ven­tures”, he said. Dr Viswanathan added that nearly three lakh in­dus­tries have be­come sick in the last 45 to 50 years ow­ing to many changes in the in­dus­trial sec­tor. It is the duty of the fu­ture gen­er­a­tion to re­vive the in­dus­tries.

De­liv­er­ing the 17th An­nual T.S. San­thanam Memo­rial Lec­ture, Dasarathy stressed the need to in­crease the pro­duc­tiv­ity of au­to­mo­bile ve­hi­cles com­men­su­rate to the in­creas­ing need for the ve­hi­cles in In­dia. The re­spon­si­bil­ity of find­ing the right tech­nolo­gies for pro­duc­ing cheaper and durable ve­hi­cles lies with the en­gi­neer­ing fra­ter­nity. The uni­ver­si­ties, pro­fes­sors, and stu­dents of en­gi­neer­ing also have an im­por­tant role to play in this ef­fort, he said.

Dr Anand A Sa­muel, Vice-chan­cel­lor and Dr. S. Narayanan, Pro-vice-chan­cel­lor of VIT and Pro­fes­sor S Gokul Ku­mar par­tic­i­pated. Dr Ari­vazha­gan, Dean, School of Me­chan­i­cal and Build­ing Sciences, VIT wel­comed the gath­er­ing. Pro­fes­sor R Va­sude­van, Di­rec­tor, Cen­tre for Man­u­fac­tur­ing, In­no­va­tion, and Re­search, VIT pro­posed a vote of thanks.

Dr G Viswanathan, Chan­cel­lor of VIT, de­liv­er­ing the 17th an­nual T S San­thanam Memo­rial Lec­ture

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