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24/01/2019 08:52am

TN aerospace & defence industrial policy will help MSMEs develop: TANSTIA

image TN aerospace & defence industrial policy will help MSMEs develop: TANSTIA

New Delhi, Jan 24 (KNN) Union Defence Minister Nirmala Sitharaman unveiled Tamil Nadu’s aerospace and defence industrial policy 2019, at the inaugural session of the Global Investors Meet (GIM). The first copy was received by Tamil Nadu Chief Minister Edappadi K. Palaniswami.

Speaking with KNN India, Immediate Past President of Tamil Nadu Small and Tiny Industries Association (TANSTIA) C Babu said this policy will help in the development of MSME entrepreneurs in the aerospace, defence and defence-related sectors.

He said that the ambitious target and incentives were also unveiled during the meet for the development of aerospace and defence industries.

Babu relieved that new/existing small and micro enterprises have signed a memorandum of understanding (MoU) with the government of India worth Rs 33 thousand crores.

Besides, large multi-national companies are coming to state to set up units in Tamil Nadu, which will bring investments in state and will also help small and micro industries.

Meanwhile, while unveiling the Defence & Aerospace Policy, Sithartaman said one of two defence industrial corridors in the country is coming up in Tamil Nadu. She also requested the investors to put money in the State in the aerospace, defence and defence-related sectors.

She assured all support from the Centre to the investors.

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