Confederation of Indian Industry (CII), Coimbatore chapter announced the launch of ‘Coimbatore Nxt’, a unique multi-year initiative for the global growth of the city in all sectors.
The ‘Coimbatore Nxt’ initiative is addressed into two major categories; modernization of existing traditional industries and new generation industries.
While addressing the press, S Prashanth, Chairman, CII Coimbatore Zone & Co-Founder and Director, Quadrasystems.net Pvt. Ltd. said, “Through ‘Coimbatore Nxt’ we aim to transform Coimbatore into one of the most vibrant economic destinations in India. In addition, the framework aims to attract global investors for the traditional and sunrise sectors”.
He added stating that their official launch of the Coimbatore Nxt is scheduled to be held on 12th September. The official inauguration is said to include the launch of a portal, Coimbatore presentation, statistical report, and digital collateral and will feature a Master Class on Entrepreneurship.
A detailed case study presentation of the city’s strengths and weakness were presented during the meeting. The report revealed Coimbatore’s market growth at 28% Year on Year (YoY).
The unique initiative of the framework addressed solutions to provide increased growth and competitiveness for local businesses, global growth of the business, create avenues and unlock values. The developmental framework includes various stakeholders covering the Kongu belt and tends to elevate the employability offers in the next 5 years.
Meanwhile, Arjun Prakash, Past Chairman, CII Coimbatore Zone stated that the framework was built with 1 year of intense case work identifying the city’s strengths and weaknesses. The expected outreach extends to the fields of Pharmaceuticals, biotechnology, EV, electronics and much more. The CII serve to become the facilitator in identifying the industrial potential of the industries in helping them compete in the global economic contribution. In this context, he stated that Coimbatore city listed among the Tier 2 cities, it comprises Tier 1 potentials. The proposed initiative shall help in achieving the state’s target of a $1 trillion contribution to the nation’s GDP.
