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TN to soon to have an aerospace and defence policy: CM Palaniswami

By Newsd
Updated on :
Source: Hindustan Times

On Saturday, Chief Minister K Palaniswami said that Tamil Nadu would soon come out with an aerospace and defence policy aimed at benefitting companies planning to invest in these sectors.

“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”, said Palaniswami at the 3rd edition of Southern Regional Council Meeting, organised by industry body CII.

“As a next step, a new aerospace and defence sector policy will be released soon”, he added.

Acknowledging the Rs 2.42 lakh crore investments in the maiden Global Investor Meet held in 2015 by the late Chief Minister J Jayalalithaa, he said that 61 projects worth Rs 62,738 crore are in stages of execution.

“Through this initiative, 76,777 new jobs have been created”, he said.

CM Palaniswami added that a second chapter of the event would be conducted in 2018 following the success of the 2015 initiative. The state of Tamil Nadu had 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. Notably, Tamil Nadu is ranked third as per the State Investment Potential Index, Palaniswami added.