Tamil Nadu to soon come out with aerospace and defence policy: Chief Minister K Palaniswami

By: |
June 3, 2017 6:13 PM

Tamil Nadu would soon come out with a aerospace and defence policy aimed at benefitting companies planning to invest in these two sectors, Chief Minister K Palaniswami said here today.

Tamil Nadu, K Palaniswami, Chief Minister, Aerospace, Defence policy, TN, Industrial Department CorporationTamil Nadu would soon come out with a aerospace and defence policy aimed at benefitting companies planning to invest in these two sectors, Chief Minister K Palaniswami said here today. (Image: The Indian Express)

Tamil Nadu would soon come out with a aerospace and defence policy aimed at benefitting companies planning to invest in these two sectors, Chief Minister K Palaniswami said here today. “I am happy to inform that the state Government, along with Tamil Nadu Industrial Development Corporation, is engaged in setting up an aerospace park on 267 acre land in Sriperumbudur”, he said. “As a next step, a new aerospace and defence sector policy will be released soon” he said at the third edition of Southern Regional Council Meeting, organised by industry body CII. Referring to 98 MoUs that attracted Rs 2.42 lakh crore investments in the maiden Global Investor Meet held in 2015 by the late Chief Minister J Jayalalithaa, he said 61 projects worth Rs 62,738 crore are in various stage of implementation.

“Through this initiative, 76,777 new jobs have been created”, he said. Palaniswami said the second edition of the event would be conducted in 2018 following the success of GIM 2015. On the status of Foreign Direct Investments in the state, Palaniswami said Tamil Nadu attracted Rs 1.25 lakh crore of FDI between May 2011 and December 2016. As per information provided by the Centre for Monitoring Indian Economy, the assured total number of investments in the State between 2011-17 was Rs 3,07,457 lakh crore, he said. He said construction work for the industrial corridor in Visakhapatnam Chennai Tuticorin-Kanniyakumari sector, taken up by the Centre and the Asian Development Bank, was going on.

You may also like to watch:

To facilitate ease of doing business in the state, the government would soon come out with a single window clearance facility for faster processing of applications, he said. “If required, suitable laws will be enacted in this regard”, he said. He said Tamil Nadu is ranked third as per the State Investement Potential Index.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1West Bengal Election 2021: Trinamool Congress releases list of 291 candidates, Mamata Banerjee to contest from Nandigram
2‘Not our stand’: Congress distances itself from Shiv Sena’s demand for Bharat Ratna to Savarkar
3West Bengal Election 2021: Smaller parties rally behind Mamata Banerjee to take on BJP might