New set of relaxations under Unlock 3.0 may pave way for a quick revival of economy: CII

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Chennai: Trade body CII on Thursday said the new set of relaxations introduced while extending the lockdown till August 31 in Tamil Nadu would pave way for quick revival of the economy besides ensuring livelihood of people.

Confederation of Indian Industry-Tamil Nadu chairman Hari K Thiagarajan said the ‘calibrated’ and ‘cautious’ approach by the State government during the lockdown improved business sentiments in the state.

“The relaxation in allowing 75 per cent of workforce in industrial units, removal of restrictions on sale of e- commerce products including non-essential items besides extending working hours of shops and restaurants would pave the way for quick revival of the economy and ensure livelihoods of people in the state”, he added.

On the government signing MoUs with companies which committed investments, he said, the measures taken by the government in attracting new investments during the lockdown has created a clear roadmap for Tamil Nadu to become the number one destination for attracting overseas investments.

The state government had signed MoUs with various companies which committed investments worth Rs 30,664 crore and expected to generate 67,212 new jobs in Tamil Nadu.

On Thursday, the Tamil Nadu government announced extension of coronavirus-induced lockdown till August 31 but with more relaxations including scaling up of workforce in private establishments and allowing dine-in services in hotels and restaurants.

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