1 lakh skilled jobs to be generated in 5 years

CHENNAI: Major sectors in the state such as real estate, automobile, power and telecom would generate direct and indirect employment opportunities for over one lakh skilled and unskilled workers in three to five years from now, industry body, Associated Chambers of Commerce and Industry of India (ASSOCHAM), said on Wednesday.

ASSOCHAM President Sajjan Jindal told reporters after a meeting of the Managing Committee of the body that companies had already promised to invest Rs 49,078 crore in Tamil Nadu over the next few years.

While real estate topped the investments with Rs 17,131 crore from major developers such as Rakindo and Mahindra World City, automotive investments touched Rs 3,510 crore, he said pointing out at Ford's plans for a small car production facility and an enegine manufacturing unit in Maraimalai Nagar near Chennai by three years and others.

The power sector saw private companies announcing investments to the tune of Rs.2,200 crore, he said.

On the current global meltdown, Jindal said ASSOCHAM was confident the country would be able to clock eight per cent growth rate since services and agriculture sectors contributed "greatly to the project growth rate".

Jindal expressed confidence that the Reserve Bank of India would further relax its monetary policy to ease the liquidity problem and expressed hope that rising inflation will come down in the next few months.