The state government is planning to make the investments in Kancheepuram and Chennai regions, Dy Chief Minister O Panneerselvam said. 

He sought early approval of the Centre for the Chennai-Bengaluru, Chennai-Kanniyakumari industrial corridors as well, to boost manufacturing activities in the state. The state government will also set up an aerospace park in about 250 acres near Sriperumbudur, 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 Commerce and Industry Minister (Suresh Prabhu) to ensure that speedy clearances are accorded to the Chennai Bengaluru industrial corridor and Chennai Kanniyakumari industrial corridor projects,” he said at the launch of India Engineering Sourcing Show. 

He said JICA and Asian Development Bank are working with the state government on developing the trunk infrastructure for these projects. He assured support to investors to facilitate investments in TN.

“The biggest strength of TN is the availability of high quality and disciplined human resources,” he said. The gross state domestic product of TN grew at a compounded annual growth rate of 11.16 per cent between 2005-06 and 2016-17, reaching $207.79 billion in 2016-17. To promote innovation and manufacturing, the state government has announced $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 $25.92 billion.