Tamil Nadu eyes Rs 75,000 crore investment in aerospace, defence

Chennai, Nov 9 (KNN) Tamil Nadu Chief Minister M K Stalin on Tuesday launched the Aerospace and Defence Industrial Policy 2022, with the aim to attract investments worth Rs 75,000 crore in the next 10 years.

The aerospace and defence industrial policy will help bring in investments for aircraft standard parts and drones, armoured vehicles, tanks and specialist vehicles, aircraft maintenance, repair and overhaul (MRO), missiles, rockets and ammunition, sensors, radars, communication and electronic warfare, small arms and assault rifles, space and shipbuilding.

The new policy, which aims to generate 1 lakh jobs over the period of 10 years will be valid till March 31, 2026.

During a Conclave on Industry 4.0- ‘Future is Now - Towering Tamil Nadu’ held at TIDEL Park in Chennai, Stalin also inaugurated the Tamil Nadu Advanced Manufacturing Centre of Excellence (TAMCOE) and Tamil Nadu Smart and Advanced Manufacturing Centre (TANSAM).

Addressing the occasion, Stalin said the state is setting up infrastructure for the manufacturing sector to prepare it for Industry 4.0. This would also benefit small and medium enterprises.

While TANSAM is a collaboration between the Tamil Nadu Industrial Development Corporation (TIDCO) and M/s. Siemens established at a cost of Rs 251.54 crore, TAMCOE is TIDCO’s collaboration with GE Aviation established at a cost of Rs 141 crore, according to an official release.

Stalin also virtually inaugurated two Remote Pilot Training Organisations in Madurai and Coimbatore that have been set up as a result of TIDCO’s collaboration with the Indira Gandhi Rashtriya Uran Academi (IGRUA) and DE Drone.

TANCAM signed Memoranda of Understanding (MoU) with Accurate Forgings, Hexsor, ADROITS, AIEMA, HOSTIA, AMET, Karpagam Group, Hindustan Group of Institutions, Sriher (Sri Ramachandra), while TAMCOE signed MoUs with Fabheads, MaxByte and Primeam, in n the presence of the Chief Minister.

TIDCO also signed an MoU with GTN for the setting up of a Common Testing Facility to help in various experiments and processes in the aerospace and defence sectors.It also inked a pact with IGRUA and DE Drone for training drone pilots.  (KNN Bureau)