The Tamil Nadu government plans to garner Rs 75,000 crore worth of investments and generate about one lakh jobs over the next 10 years through the aerospace and defence sectors, Chief Minister M K Stalin said on Tuesday.
Releasing an aerospace and defence industrial policy at the 'Future is now-Towering Tamil Nadu' conclave here, Stalin said the policy aims at providing enhanced support to micro, small and medium enterprises sector and start-ups in the two sectors.
The mission of the policy is to create a robust, world-class, high technology efficient aerospace and defence manufacturing ecosystem.
The policy would foster innovation ecosystem focusing on the aerospace and defence sectors by development of innovation centres, start-up hubs, to make Tamil Nadu the foremost innovation hub of India.
Tamil Nadu is all set to emerge as the key destination for the global aerospace and defence industry following the announcement of Tamil Nadu Defence Industrial Corridor coupled with highly skilled human resources, various investor-friendly initiatives and conducive business climate, the policy said said.
Tamil Nadu has always been at the forefront in aerospace and defence manufacturing, Stalin said and this has been proven if one looks into the history of the state.
"Tamil Nadu's navy during the Chola period was the best while the country's first infantry was the Madras Regiment. Aircraft manufacturing moved to Chennai in 1910 for the first time after being produced in Europe and in the United States," he said.
He pointed out that even today, the majority of aircraft components were produced in Tamil Nadu to serve the Bengaluru-headquartered Hindustan Aeronautics Ltd and currently an opportunity has emerged to boost production and attain self-sufficiency in this sector.
"Considering the opportunities available in the sector, the government has announced aerospace and defence industries as the sunrise sector," he said.
"We have set a target to generate one lakh jobs besides attracting Rs 75,000 crore investments over the next 10 years," he added.
Appealing to industrialists present at the venue to utilise the opportunities available in the state, he said let us all vow to make Tamil Nadu emerge as the best state in economic development not only at national level but also in South Asia.
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