TN aims at Rs 75K cr investment in Aerospace & Defence sector

CHENNAI: The State government, in the Draft Tamil Nadu Aerospace and Defence Industrial policy, released on Tuesday, has set the target of attracting investments in Aerospace and Defence (A&D) sector to the tune of Rs 75,000 crore in the next 10 years. The policy has also set the goal of providing 1 lakh direct and indirect employment in the sector, in 10 years.

The policy was released by Chief Minister MK Stalin and was received by Industries Minister Thangam Thennarasu, at the conclave on Industries 4.0, in Taramani. The vision of the policy is to make Tamil Nadu "the preferred destination to invest, innovate and create products and services in Aerospace and Defence sector."

Through the policy, the State aims to a create a robust, world-class, high technology, efficient A&D manufacturing ecosystem.

The government also aims to attract global Original Equipment Manufacturers (OEMs) and Tier-1 suppliers and Indian majors as anchor units in the by providing the required facilitation and support.