Puducherry Announces 750-Acre Industrial Estate to Boost Investment and Jobs

On August 23, N. Rangasamy, Chief Minister of Puducherry, declared the establishment of an industrial estate in this Union Territory of around 750 acres, which will attract investment and jobs over time.

This was said by the Chief Minister on the last day of the International Business Summit and Expo organized by the Global Organization of People of Indian Origin (GOPIO) over three days at the Old Port Grounds. It awarded 17 persons, including members and Indian representatives, for their contributions to the industrial and social environment.

According to Rangasamy, Puducherry has a relatively amiable climate for attracting foreign investors, combined with factors such as continuous power supply, a very skilled and educated youth workforce. He said that the Indian diaspora must invest in this Union Territory because it is “quite significant” in developing Puducherry. “All help will be rendered by the Government of Puducherry,” promised the Chief Minister, branding the estate yet to come as the hub for industries in the future.

It is likely to contribute to the diversification of Puducherry’s economy and give a structural boost to job generation. Specific details have not yet been made available regarding the definitive location or possible timeframe for developing the estate, but departmental sources say that the estate will predominantly target domestic and foreign investors.

Minister of Tourism K. Lakshminarayanan, who attended the event, also threw light on other potential sectors such as education, health, and tourism. He further stipulated that Puducherry was one of the cities in Asia designated as a Walkable city and thus a lifestyle and business tourism destination. This, Lakshminarayanan stated, is attributed to the transformational changes introduced by the welfare measures of Rangasamy in the Union Territory.

The summit acted as a forum wherein local leadership and the Indian diaspora were engaged in dialogue as Puducherry engages in strategic competition with other industrialized destinations and investment. Accordingly, plans have been put in place for the industrial estate, though the administration is still working to align local objectives for development with investment interests further afield, thereby strengthening Puducherry’s place within the regional economy.