"Tamil Nadu Aims to Establish R&D Facilities to Retain Talent, Says TRB Rajaa"

Tamil Nadu is poised to reinforce its status as a hub for talent by focusing on the establishment of additional research and development (R&D) facilities, according to TRB Rajaa, the Minister for Industries, Investment Promotion & Commerce for the government of Tamil Nadu. Speaking during a fireside chat with A K Bhattacharya, Editorial Director of Business Standard, at the Tamil Nadu Round Table 2023 in Chennai, Rajaa emphasized the need for more R&D infrastructure to retain the state's extensive talent pool.

"When there is a talent pool, it requires more R&D. We would like to bring in more R&D facilities here, ensuring that they have access to the best labs and testing facilities right here at home to retain them in Tamil Nadu," stated Rajaa. He underscored the importance of transforming Tamil Nadu into an R&D hub as the state moves towards a knowledge economy, describing the strides being made in this direction.

The government is actively working on establishing a Knowledge City near Chennai, with the goal of attracting top global universities to set up offices in the state. Rajaa expressed optimism about witnessing prominent names entering Knowledge City by the end of the next year.

Discussing the impact of the relationship between the central and state governments on growth, Rajaa advocated for more decentralization, particularly in the realm of education. He stressed the need for a like-minded society, emphasizing that industry leaders should collaborate with the Knowledge City to provide valuable training opportunities for talent.

Rajaa also highlighted the importance of decentralizing financing and promoting microfinancing, particularly for micro, small, and medium industries (MSMEs). He argued that the growth of the local economy and, consequently, the overall state's growth hinges on the expansion of the MSME ecosystem.

Addressing Tamil Nadu's emergence as an industrial powerhouse, Rajaa identified three key factors contributing to the state's success: a robust talent pool fostered by education, enabling infrastructure provided by the state government, and policy continuity despite changes in leadership. He emphasized the commitment to maintaining policy consistency, ensuring that the industry receives incentives regardless of regime changes.

BS