Tamil Nadu Chamber of Commerce and Industry President Dr. N. Jegatheesan said India’s strong domestic market, infrastructure investments, digital economy and progress in manufacturing, services and exports were strengthening the country’s economic outlook.
Addressing the 80th Independence Day celebrations at the Chamber premises in Madurai on Saturday, Dr. Jegatheesan said India was continuing to attract global attention despite uncertainties caused by inflation, geopolitical tensions and changes in international trade policies.
He noted that the International Monetary Fund’s July 2026 World Economic Outlook had projected India’s real GDP growth at 6.4 per cent for 2026-27, while the Economic Survey 2025-26 and the Union Budget 2026-27 analysis had offered a more optimistic growth estimate of 6.8 to 7.2 per cent.
He urged the industrial and business community to make full use of the growth opportunities by improving productivity, adopting modern technologies, promoting innovation, maintaining global standards, expanding exports and strengthening international competitiveness.
He particularly called upon MSMEs, start-ups, young entrepreneurs and exporters to utilise the favourable economic environment to create new investments, employment opportunities and business expansion.
India-EU Trade Agreement
Dr. Jegatheesan highlighted the India-European Union Free Trade Agreement as a significant development for Indian trade and industry. He said the agreement would particularly benefit Tamil Nadu's textile, leather and footwear sectors, while also creating opportunities for engineering goods, auto components, electronics, seafood, spices and processed food exports.
He said textile hubs such as Tiruppur, Erode, Salem and Karur, along with leather and footwear centres including Ambur, Vaniyambadi and Ranipet, could benefit from increased access to European markets.
Madurai Infrastructure Projects
Referring to Prime Minister Narendra Modi's visit to Madurai on March 1, 2026, he said infrastructure projects worth around ₹4,400 crore had been launched or initiated with the objectives of improving connectivity, transportation and economic development.
He said the Chamber's representatives had participated in the event. He also highlighted railway infrastructure projects, including the proposed fourth railway line between Chennai Beach and Egmore, redevelopment of railway stations under the Amrit Bharat scheme and the expansion of the Paramakudi-Ramanathapuram road into a four-lane highway.
Madurai Airport Upgrade
Dr. Jegatheesan welcomed the elevation of Madurai Airport as an international airport, describing it as a long-standing demand of the Chamber.
He said the development would help Madurai establish direct international air connectivity, accommodate larger aircraft and strengthen industrial and commercial activity in southern Tamil Nadu. He also stressed the need to expand runway infrastructure and provide facilities such as night parking and visa-related services.
Demands Raised with Union Minister
At a meeting organised by the Chamber with Union Commerce and Industry Minister Piyush Goyal in April, several demands concerning Madurai's economic and infrastructure development were raised.
These included establishing a Busport in Madurai, expediting the PM MITRA textile park at E. Kumaralingapuram in Virudhunagar district, establishing the National Institute of Pharmaceutical Education and Research (NIPER) in Madurai and considering Madurai as the second capital of Tamil Nadu.
The proposed PM MITRA textile park, spread over around 1,052 acres, is expected to generate substantial employment opportunities once operational, he said.
Demand for Madurai Metro Rail
The Chamber president urged the Tamil Nadu Government to press the Centre for approval of the Madurai Metro Rail project.
He said Madurai's growing population, expanding urban limits, major educational and medical institutions, railway network, airport, bus terminal and increasing vehicular traffic made a mass rapid transit system essential.
The Chamber has also urged the authorities to reconsider the rejection of the Madurai Metro proposal and take into account the city's current population and future development requirements.
Madurai Airport Runway Expansion
Another major demand was the expansion of the Madurai Airport runway from the existing 7,500 feet to 12,000 feet.
Dr. Jegatheesan said land had been acquired for the expansion, but the remaining land acquisition should be completed and handed over to the Airports Authority of India at the earliest.
He advocated an underpass-based runway expansion, allowing vehicles to pass beneath the runway without disrupting traffic on the surrounding road network. He said such a solution would minimise inconvenience to residents and commuters from villages around the airport.
GSTAT and Arbitration Centre
The Chamber president also highlighted the establishment of the GST Appellate Tribunal system and said the Madurai bench would provide greater convenience to taxpayers in southern districts.
He said the Chamber had organised awareness programmes on GSTAT and the new income-tax law to help its members understand the latest legal and tax developments.
He also said infrastructure work was underway to strengthen the Chamber's Conciliation and Arbitration Tribunal (ChaAT) with modern arbitration halls, an arbitrators' lounge and a record room. Discussions were also underway for greater coordination between the Madurai Bench of the Madras High Court and the Chamber's arbitration centre.
Social Welfare Initiatives
As part of its social service activities, the Chamber provided around 750 litres of buttermilk daily to approximately 2,000 passengers at Madurai Railway Station during the summer from May 15 to June 14, 2026. The initiative involved an expenditure of around ₹10,000 per day.
Dr. Jegatheesan said the Chamber would continue working for the development of industry and commerce as well as the welfare of the public.
He thanked the members for their continued support and said the historic organisation would strive to expand its services and contribute to the economic development of Madurai, Tamil Nadu and the country.
The celebrations began with the hoisting of the national flag at the Chamber premises at 8.30 a.m. The Independence Day programme was held at the Chamber's Hudson Assembly Hall.