T.N. ideal destination for industrial investment: Governor

Tamil Nadu is one of the fastest growing economies in the country and is aided by many advantages which makes it an ideal destination for industrial investment, Governor Banwarilal Purohit said here on Tuesday.

Pointing to the State’s industrial growth and contributions to the country’s economy, he said that nearly 50% of the State is urbanised, which accounts for 9.6% of India’s urban population. Its trained manpower, conducive climate and people make it a destination for industrial investment, he noted.

Stamp released

Earlier, he released the commemorative postage stamp in memory of former Murugappa group chairman M.V.Arunachalam at a function organised by AMM Foundation in the city.

Citing the Economic Freedom Rankings for the States in India, the Governor said Tamil Nadu was ahead of many States. Doyens like Mr. Arunachalam built T.N.’s reputation for many decades.

“Mr. Arunachalam was more than a successful industrialist. He was an intellectual, humanist and philanthropist. He ensured that the needy had access to healthcare and education through several initiatives. It is important to recognise the contributions of such visionaries who have provided impetus to our country’s growth,” he added.

The first copy of the commemorative stamp and album was received by Mr. Arunachalam’s children — Valli Annamalai, A. Vellayan and A. Venkatachalam.

Recalling his relationship with the Murugappa group, N. Ram, Chairman, The Hindu Publishing Group, said the occasion was to commemorate the life and works of Mr. Arunachalam who dealt with life with fortitude and equanimity.

He always thought beyond industry and worked for the larger national interest and economic reforms.

“He dealt with personal challenges with the same grace and dignity. The younger generation in the helm of Murugappa group must learn his integrity and transparency and live up to the standards set by him,” he added.

Highlighting the significance of the commemorative stamp, M. Sampath, Chief Postmaster General, Tamil Nadu circle said it was the second occasion that a commemorative stamp was being released for another family member of Murugappa group.

The first one was released on October 1, 2005 in memory of A.M.M. Murugappa Chettiar.

This year, 16 commemorative stamps have been released of which six were of personalities. M.V. Subbiah, managing trustee of AMM Foundation and A. Vellayan, former chairman of the Murugappa group spoke.