The Tamil Nadu government is working on a new industrial policy and hopes to release it soon.
“Work is in progress for the new policy,” Industries Minister M.C. Sampath said here on Friday.
Speaking to presspersons after the launch of a skill programme for aerospace sector, Industries Secretary N. Muruganandam said the current policy was based on value-added tax (VAT). Now that the GST was implemented, a new policy was needed. It would be announced after holding consultations, he said.
Tamil Nadu would get two industrial corridors — Chennai-Bengaluru and Chennai-Kanniyakumari. The western districts of the State were not part of the two proposed corridors that would be implemented by the Centre. The State government had taken it up with the Centre to include these districts. On the Defence Corridor, he said already an investment of ₹3,300 crore was committed. The aerospace sector was an emerging area and it needed skilled people.
Mr. Sampath added that the State government planned to set up a defence park in Coimbatore on 300 acres of land and had an industrial park near Tiruppur on 1,000 acres of land.
The Tidel Park in Coimbatore would be expanded at an investment of ₹200 crore to have additional five lakh sq. ft. The Ticel Bio Park here will be inaugurated by December end.
