PremiumTamil Nadu Chief Minister M K Stalin announced that the state has released an aerospace and defence industrial policy with an aim to garner investments of around a whopping ₹75,000 crore over a period of 10 years. Through the policy, the state government plans to generate new jobs of up to 1 lakh in both direct and indirect sectors during this period.
Stalin stated that the aerospace and defence policy focuses on providing enhanced support to the micro, small and medium enterprises sector and startups engaged in this sector.
The aerospace and defence policy was unveiled in a conclave on Industry 4.0 -- ‘Future is Now - Towering Tamil Nadu’ by Stalin in Chennai.
Stalin said, "Tamil Nadu's navy during the Chola period was the best while the country's first infantry was the Madras Regiment. Aircraft manufacturing moved to Chennai in 1910 for the first time after being produced in Europe and in the United States," reported PTI.
He added that considering the opportunities available in the sector, the government has announced the aerospace and defence industries as the sunrise sector.
Further, in the conclave, Stalin said that the government has set a target to generate one lakh jobs besides attracting ₹75,000 crore investments over the next 10 years.
According to Stalin, Tamil Nadu has always been at the forefront of aerospace and defence manufacturing. Adding he said that such has been proven if looked into the state's history.
The CM also mentioned that in Tamil Nadu, the majority of aircraft components produced were to serve the Bengaluru-headquartered Hindustan Aeronautics. He believes currently, an opportunity has emerged to boost production and attain self-sufficiency in this sector.
In the conclave, he appealed to the industrialists present for using the opportunities available in the state. He vowed to make Tamil Nadu emerge as the best state in economic development not only at the national level but also in South Asia.
During the conclave, Stalin also unveiled two Centres of Excellence namely -- the Tamil Nadu Smart and Advanced Manufacturing Centre (TANSAM) and the Tamil Nadu Advanced Manufacturing Centre of Excellence (TAMCOE).
TANSAM is a tie-up between the Tamil Nadu Industrial Development Corporation (TIDCO) and Siemens. Also, TANCAM has signed Memoranda of Understanding (MoU) with firms like Accurate Forgings, Hexsor, ADROITS, AIEMA, HOSTIA, AMET, Karpagam Group, Hindustan Group of Institutions, Sriher (Sri Ramachandra).
On the other hand, TAMCOE is also a TIDCO-backed company, however, in collaboration with GE Aviation. It has also signed MoUs with Fabheads, MaxByte and Primeam.