Describing London as a “dead economy”, K Annamalai, founder of We the Leaders, on Sunday wondered why Chief Minister, C. Joseph Vijay had gone there seeking investment for industrial development in Tamil Nadu.

Addressing a meeting organised by his organisation in Madurai, he said England has seen seven Prime Ministers in the last 10 years due to economic instability.

“Its economy development was just 1%. When England does not have enough funds for its own development, how can the country give investment for Tamil Nadu. Only the subsidiaries of Indian corporates there could give money to Tamil Nadu” he contended.

Mr. Annamalai said Indian giants have been investing in London in the last five years.

Instead the Chief Minister should go to Coimbatore, Madurai and Thoothukudi and tell the industrialists to expand their industrial units with an assurance of 50% tax subsidy, he suggested. This way the State Government could give impetus to groundnut cookies manufacturers, automobile manufacturers, spinning mills.

“You should encourage the domestic industrialists who are eager to make their investments in Tamil Nadu,” he added.

He likened the strong arguments and counter-arguments being made over the CM’s London visit by political parties to a comic scene of a Vivek-starrer.

“Seeking foreign investment was justified till 2010 when India’s economy was One Trillion US Dollars. But, it has now outgrown London’s economy,” he said.

Later, he gave away awards to volunteers who had participated in cleaning Vaigai river since August 3.