The Tamil Nadu government today asked the Centre to provide speedy approvals for the Chennai-Bengaluru and the Chennai-Kanyakumari industrial corridor projects to boost manufacturing activities in the state. Also, the state government will set up an aerospace park in about 250 acres near Sriperumbudur, Tamil Nadu's Deputy Chief Minister O Panneerselvam said. In addition, he said, the proposed establishment of defence production corridors across Tamil Nadu linking existing public sector manufacturing facilities with new capacities to be created in the private sector will also boost engineering manufacturing in the state. "I take this opportunity to request the Union Commerce and Industry Minister (Suresh Prabhu) to ensure that speedy clearances are accorded to the Chennai Bengaluru industrial corridor and the Chennai Kanniyakumari industrial corridor projects," he said here at the inauguration of India Engineering Sourcing Show. He said that JICA and Asian Development Bank are working with the state government on developing the trunk infrastructure for these projects. He assured all support to investors to facilitate investments in the state. Panneerselvam further said the state has all the modern infrastructure and policies to attract and facilitate investments. "The biggest strength of Tamil Nadu is the availability of high quality and disciplined human resources," he said. The gross state domestic product of Tamil Nadu grew at a compounded annual growth rate of 11.16 per cent between 2005-06 and 2016-17, reaching USD 207.79 billion in 2016-17. To promote innovation and manufacturing, the state government has announced USD 1.55 billion assistance for strategic entrepreneurship and innovation programme between 2017-2021. Panneerselvam said the state ranks third in terms of FDI inflow into the country and cumulatively FDI inflows in Tamil Nadu from April 2000-September 2017 stood at USD 25.92 billion.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
RECOMMENDED FOR YOU