Tamil Nadu seeks Rs 750 billion investments in aerospace

10 Nov 2022 CW Team

Tamil Nadu announced a new policy that will seek investments worth Rs 750 billion in the aerospace and defence industries over the next ten years. The policy aims to create 100,000 new jobs in the sector. Chief Minister MK Stalin stated that the state's goal is to become a trillion-dollar economy by 2030-31, with a focus on manufacturing and services. Stalin dedicated the Tamil Nadu Smart and Advance Manufacturing (TANSAM) and Tamil Nadu Advanced Manufacturing Centre of Excellence (TAMCE) (TAMCOE). TANSAM was established with a Rs 2.51 billion investment by the Tamil Nadu Industrial Development Corporation (TIDCO) in collaboration with Siemens. TANSAM will investigate electric vehicles, aerospace, electric vehicles (EV), marine, green energy, biotechnology, industrial automation, robotics, and other industries.

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