From SIPCOT parks to space tech policy: Here is a list of key industry-related announcements made in Tamil Nadu Assembly
The announcements come a day after Tamil Nadu Chief Minister MK Stalin announced that an international airport would be built in Hosur, specifically for promoting further investment into the state.
CHENNAI: From an upcoming space tech industrial policy to the setting up of several SIPCOT parks across the state, industries minister TRB Rajaa on Friday announced various industry-related plans and schemes for Tamil Nadu in the state legislative assembly.
Following are some of the key announcements from the minister:
1. Tamil Nadu Space Tech Industrial Policy to be released.
2. Tamil Nadu Circular Economy Investment Promotion Policy to be released.
3. Tamil Nadu Toy Manufacturing Policy to be released.
4. Tamil Nadu Roadmap for Creative Economy to be published.
5. Coimbatore gets a regional office of Guidance Tamil Nadu.
6. A desk of Guidance Tamil Nadu to be established in Tokyo, Japan.
7. Tourism Investment Promotion and Facilitation Cell to be established at Guidance Tamil Nadu.
8. State Industries Promotion Corporation of Tamil Nadu Limited (SIPCOT) to undertake land acquisition for tourism development using PPP Model.
9. SIPCOT Park at Gummidipoondi, Tiruvallur district, 1500 acres.
10. SIPCOT Park at Ottapidaram, Thoothukudi district, 1000 acres.
11. SIPCOT Park at Udayarpalayam, Ariyalur district, 175 acres.
12. SIPCOT Park at Thiruverumbur, Trichy district, 150 acres.
13. SIPCOT Park at Mannargudi and Koothanallur, Tiruvarur district, 150 acres.
14. SIPCOT Park at Sriperumbudur, Kanchipuram district, 750 acres.
15. SIPCOT Park at Chennai ORR, 200 acres.
16. SIPCOT Park at Kunnam, Perambalur district, 100 acres.
17. TIDEL Neo Park in Tiruvannamalai.
18. TIDEL Neo Park in Karur.
19. SIPCOT to establish Joint Venture industrial parks with private participation.
20. SIPCOT to set up Product Display Centre at Irungattukottai.
21. SIPCOT to build sports grounds within industrial parks at Gummidipoondi, Mambakkam and Thoothukudi.
22. Tamil Nadu Cements Corporation Limited (TNCCL) to produce M Sand at the Alangulam plant.
23. Tamil Nadu Industrial Investment Corporation Limited (TNIICL) to disburse loans worth Rs 2100 crore to MSMEs via bill financing.
The announcements come a day after Tamil Nadu Chief Minister MK Stalin announced that an international airport would be built in Hosur, specifically for promoting further investment into the state.
Crediting the Tamil Nadu Global Investors Meet (GIM) 2024, held on January 7 and 8, for showcasing the state as a dream investment hub, the industries minister informed today that leading global marquee technology companies and R&D centres have been setting up and expanding their manufacturing facilities in Tamil Nadu in the last three years. These include Titagarh, Tata Power, Godrej, Corning, Saint Gobain, First Solar, Tata Motors, Coherent, Hitachi, Boeing, AstraZeneca, Roche, Maersk, Ford, Hapag Lloyd, UPS, Bank of America, Standard Chartered, and Wells Fargo.
The minister also recalled that a delegation led by CM Stalin had made fruitful trips to Singapore and Japan in May 2023 which brought in investment commitments of Rs.1,342 crore and employment potential for 2,271 persons in the state. Another visit, this time, to Spain resulted in an investment commitment of Rs.3,440 crore and the potential to create 1,150 jobs in Tamil Nadu.
A policy note from the state industries minister detailed that Tamil Nadu also holds a 10.15% share in India’s total exports in the 2023-24 period and leads the central government's Export Preparedness Index. The state contributed to 33% of the country's total exports in the electronic sector, amounting to USD 9.5 billion.
The state's industry-friendly electronics policy, ease of doing business, skilled talent and presence of port infrastructure were attributed to be the harbingers for its industrial success. "Tamil Nadu's industrial policies are closely aligned with Sustainable Development Goal 8 - Decent Work and Economic Growth and Sustainable Development Goal 9 - Industry, Innovation, and Infrastructure. Also, policies such as the Tamil Nadu Industrial Policy 2021 emphasize the growth of high-potential sectors like automobiles, electronics, textiles, and renewable energy. These policies not only aim to boost economic output but also focus on skill development and employment generation, and balanced growth by providing additional incentives for investments in industrial backward districts," the policy note read.
Tamil Nadu continues to be a forerunner in exports of auto and auto components, engineering goods, textiles, leather and other principal commodities. It achieved a whopping USD 44 billion export performance in these sectors in 2023-24.
Coming to women and industrial employment, the state employs a whopping 42% of the country's total female workforce, who are involved in the manufacturing sector.
The note also underscored the role played by the Tamil Nadu Industrial Guidance and Export Promotion Bureau, set up in 1992, in facilitating the establishment of new enterprises, expansion of existing enterprises, and provision of end-to-end facilitation services, including single window clearances. It was the Tamil Nadu Business Facilitation Act 2018 which empowered Guidance to become the nodal agency in the state. Further, Guidance can also recommend the structure of incentives to enterprises as per state policies, the note further added.
The note also mentioned that solutions to cut down on costs and efforts in setting up manufacturing facilities were being thought of. In this regard, Plug and Play infrastructure alongside Grade A buildings is being developed by SIPCOT and TIDEL Park across Chennai and tier 2 & 3 towns in the state. This is expected to bring in ready-to-occupy office spaces for fintech, IT / ITeS companies, Global Capability Centres, and R&D facilities.