Union Defence Minister Nirmala Sitaraman on Wednesday called for investment in the recently inaugurated defence corridor in Tamil Nadu, the second in the country
Speaking at a two-day global investors meet inaugurated by Chief Minister Edappadi K Palanisami, the Minister unveiled the Defence Aerospace Industrial Policy 2019.
She said : “Tamil Nadu was chosen for the defence corridor to achieve Prime Minister Narendra Modi’s vision of self sufficiency in manufacture because it is an entrepreneurial State for years”
She said the Central government would provide all necessary support to the State government.
Sitaraman had inaugurated the Defence Industrial Corridor Project last Sunday, unveiling investment proposals worth over Rs 3,030 crore with interests from public sector companies such as Bharat Electronics and the Ordnance Factory Board, and others.
Speaking about the investment the State in the aero sector, Palaniswami said “thirty-five companies from Tamil Nadu have already signed transfer of technology agreements with DRDO, including MRF, which manufactures aero-muscle tyre for Sukhoi fighter jets of the Indian Air Force. Lakshmi Machine Works was setting up an aerospace and defence components manufacturing unit in Coimbatore. "Many more such projects are on the anvil.” he said.
Palaniswami revealed that Foxconn will assemble premium brand smartphones at its plant in Sriperumbudur.
Adani Ports Chief Executive Officer (CEO) Karan Adani said Adani Group would be signing a memorandum of understanding (MoU) to invest Rs 12,000 crore in Tamil Nadu across various projects, including logistics, industrial park, city gas distribution
The Japanese delegation announced that All Nippon Airways will begin direct flights to Chennai. the delegation also announced the Japan International Cooperation Agency would provide Rs 480 crore to the Chennai Metro Rail Phase II,
The first edition of Global Investors Meet held in 2015 when J Jayalalitha was Chief Minister garnered total committed investments of Rs 2.11 lakh crore with manufacturing and energy-related investments accounted for Rs 1.04 lakh crore and Rs 1.07 lakh crore, respectively.
This year’s MoU list will have projects across hospitality and tourism, healthcare and hospitals, educational institutions, retail infrastructure and solar parks. The construction sector will see as many as 50 MoUs under Chennai Metropolitan Development agency and related departments.