Mega manufacturing, employment boost for Tamil Nadu

[safari2021]

CHENNAI: The Tamil Nadu government is eyeing an annual growth rate of 15 per cent in the manufacturing sector, and targeting investments worth Rs 10 lakh crore and jobs for 20 lakh people by 2025. This was revealed on Tuesday, when Chief Minister Edappadi K Palaniswami unveiled the Tamil Nadu Industrial Policy 2021 and State MSME policy.
As many as 28 MoUs, for a total investment of Rs 28,053 crore, were signed at the event, which highlighted how the State is wooing investments even when the world is battling the Covid-19 outbreak. The new investments, if realised, would generate 68,775 jobs.
The investments are in various sectors, including electric vehicles, wind energy, auto components, city gas, and textiles. During the event, the Chief Minister also laid foundation stones for 10 new industrial parks and estates, and inaugurated projects worth Rs 3,469 crore. In total, 46 projects, with an investment of Rs 33,465 crore and providing jobs to 2,19,714 people, were launched on Tuesday.
‘Policies aimed at boosting new sectors’
SPEAKING on the occasion, Palaniswami said the new industrial and MSME policies are aimed at boosting new sectors, such as food processing, and giving incentives to those creating jobs for transgender persons and per sons wi t h disabilities. He also released a postal stamp to commemorate the golden jubilee of SIPCOT. He also launched the SIPCOT Industrial Innovation Centres at Sriperumbudur and Hosur, which were set up at Rs 20 crore each.
Through them, the State intends to accelerate the adoption of technology in industrial projects with a focus on Industry 4.0, advanced manufacturing and future mobility. Besides this, the CM laid the foundation for four new industrial parks of SIPCOT- Manapparai (1,077.04 acres of land; Rs 500 cr investment), Maanallur (691.587 acres; Rs 250 cr investment), Oragadam (476.12 acres; Rs 375 cr investment), and Dharmapuri (1,733.40 acres; Rs 480 cr investment).

Chief Minister Edappadi K Palaniswami releases postal stamps to
commemorate the Golden Jubilee of SIPCOT, in Chennai on Tuesday
| Debadatta Mallick
These parks will cater to the requirements of the automobile, auto components, food processing, general engineering, e-vehicle manufacturing and textiles sectors, and create jobs for more than one lakh people. Palaniswami also laid the foundation for two plug-and-play flatted factories with 250 modules at the Ambattur and Guindy Industrial Estates. The CM also inaugurated the new TICEL Bio Park at Coimbatore.
The state-of-the-art facility will be the tallest building in the city. It was constructed on a sprawling 10 acres of land, with an investment of over Rs 85 crore, and has a built-up space of 2.29 lakh square feet. Foundation stones were also laid for the formation of six new TANSIDCO industrial estates spread over 280 acres and set up at Rs 200 crore in Chengalpattu district, Periya Seeragapadi and Umayalpuram in Salem district, Alangudi in Pudukkottai district, Periyakolapadi in Tiruvannamalai district, and Rasampalayam in Namakkal district.
Besides, the CM inaugurated coir clusters set up at Rs 1,811.92 lakh, including Noyyal Coir Cluster in Erode district. These will produce geo textiles, coir pith blocks and tufting matting, and provide direct employment to 600 people and indirect employment to 1,500 others. He also gave away awards to outstanding MSME entrepreneurs in the categories of best entrepreneur, quality & export, woman entrepreneur, agro-based industry, and to banks that gave more credit.
INDUSTRY HAILS NEW POLICIES
Chennai: The industry has welcomed the new industrial policy and said that it looked at enhancing the inclusiveness, transparency and flexibility through the newly-formulated schemes of subsidies and incentives meant to attract investors into the State. The Madras Chamber of Commerce & Industry (MCCI) said they were happy many of their suggestions were adopted.
MCCI president, Srivats Ram, said the policy has an online planning permission and building option for firms on government industrial parks. There are incentives for setting up industrial parks, logistics parks, skill development centres and for firms greening their manufacturing set-ups. Meanwhile, the Tamil Nadu Small and Tiny Industries Association said the policy got updated at the right time as the market had started picking up after the pandemic. TANSTIA president, S Anburajan, said the move to set up an Estate Infrastructure Corpus Fund will enhance MSME performances.
Interim Budget on February 23
The Interim Budget for 2021-22, to be presented by Deputy Chief Minister O Panneerselvam on February 23, is likely to have some new announcements although the general convention is not to have any new initiatives