GIM opens, now for the workout
Industrial Policy For Defence, Aerospace Aims At 1 Lakh Jobs
D.Govardan@timesgroup.com 24.01.2019
The second edition of the Tamil Nadu Global Investors Meet (GIM) opened in Chennai on Wednesday, with the government unveiling a state aerospace and defence industrial policy. This, the government said, will attract investment of $5 billion over five years, $10 billion over 10 years, and generate employment for one lakh people in the state.
The policy aims to harness Tamil Nadu’s inherent strengths in automotive manufacturing to explore opportunities in aerospace and defence manufacturing and create a global workforce for high-end manufacturing by establishing centres of excellence, R&D and skill development institutions. It will also seek to attract global original equipment manufacturers (OEMs) and Tier 1 suppliers and Indian majors as anchor units.
The state will adopt a cluster development approach to build the physical infrastructure needed for an aerospace and defence manufacturing ecosystem. The government, through Tidco/Sipcot, will establish aerospace and defence parks with infrastructure for housing large, medium and small companies. While Sipcot has been mandated to act as the implementing agency for disbursement of various incentives, a single window facilitation mechanism would be put in place to enable SMEs to play a major role as vendors for larger units.
The policy promises to offer flexibility in labour laws, without compromising labour welfare. Special incentives under the ministry of defence will be offered to the units that will also get concession of 30% of the land cost and 100% reimbursement of stamp duty on lease/sale.
Defence minister Nirmala Sitharaman handed over the first copy of the policy to chief minister Edappadi K Palaniswami. Appreciating Tamil Nadu for unveiling such a specific policy for aerospace and defence, she invited the global trade community to invest in these sectors in the state. She said the central government would provide all support in this regard.
With Tamil Nadu getting one of the two defence corridors, and with the unveiling of a specific policy, the state could establish itself as a major player. “The defence corridor will connect Chennai, Hosur, Salem, Coimbatore and Trichy as a defence manufacturing hub,” she said.
The policy document stressed that Tamil Nadu was industrially advanced and well known for it diversified industrial base and that it turned out the largest number of skilled manpower in India every year as a pioneer in promoting technical education in the private sector.
Industry should not only spend on R&D, but also on imparting communication skills in other languages, including foreign ones, for Tamil students
Nirmala Sitharaman | DEFENCE MINISTER
Industrial Policy For Defence, Aerospace Aims At 1 Lakh Jobs
D.Govardan@timesgroup.com 24.01.2019
The second edition of the Tamil Nadu Global Investors Meet (GIM) opened in Chennai on Wednesday, with the government unveiling a state aerospace and defence industrial policy. This, the government said, will attract investment of $5 billion over five years, $10 billion over 10 years, and generate employment for one lakh people in the state.
The policy aims to harness Tamil Nadu’s inherent strengths in automotive manufacturing to explore opportunities in aerospace and defence manufacturing and create a global workforce for high-end manufacturing by establishing centres of excellence, R&D and skill development institutions. It will also seek to attract global original equipment manufacturers (OEMs) and Tier 1 suppliers and Indian majors as anchor units.
The state will adopt a cluster development approach to build the physical infrastructure needed for an aerospace and defence manufacturing ecosystem. The government, through Tidco/Sipcot, will establish aerospace and defence parks with infrastructure for housing large, medium and small companies. While Sipcot has been mandated to act as the implementing agency for disbursement of various incentives, a single window facilitation mechanism would be put in place to enable SMEs to play a major role as vendors for larger units.
The policy promises to offer flexibility in labour laws, without compromising labour welfare. Special incentives under the ministry of defence will be offered to the units that will also get concession of 30% of the land cost and 100% reimbursement of stamp duty on lease/sale.
Defence minister Nirmala Sitharaman handed over the first copy of the policy to chief minister Edappadi K Palaniswami. Appreciating Tamil Nadu for unveiling such a specific policy for aerospace and defence, she invited the global trade community to invest in these sectors in the state. She said the central government would provide all support in this regard.
With Tamil Nadu getting one of the two defence corridors, and with the unveiling of a specific policy, the state could establish itself as a major player. “The defence corridor will connect Chennai, Hosur, Salem, Coimbatore and Trichy as a defence manufacturing hub,” she said.
The policy document stressed that Tamil Nadu was industrially advanced and well known for it diversified industrial base and that it turned out the largest number of skilled manpower in India every year as a pioneer in promoting technical education in the private sector.
Industry should not only spend on R&D, but also on imparting communication skills in other languages, including foreign ones, for Tamil students
Nirmala Sitharaman | DEFENCE MINISTER
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