Chennai: The Interim Budget presented in the Tamil Nadu Assembly on
Tuesday said with the goal of achieving the USD One Trillion Dollar Economy by 2030,
the state Government has been attracting large scale industrial investments across all
regions of State through proactive initiatives.
Mr Thennarasu said the state has been attracting massive investments through initiatives
such as the Global Investors Meet (GIM) and TN-Rising Conclaves.
Since this Government assumed office, 1,179 Memorandum of Understanding (MoUs) have
been signed for a committed investment of Rs.12.37 lakh crore to create 36 lakh employment opportunities till date.
With the objective of ensuring balanced industrial development across the State, the Government is committed to establishing industrial parks in every district. Until 2021, SIPCOT industrial parks were functioning in 15 districts, covering an extent of 32,525 acres, he said.
After this Government assumed office, new industrial parks have been established in 12 additional districts, and currently 54 industrial parks are operational across 49,468 acres, Mr Thennarasu said, adding, further, land acquisition is underway for an additional 28,392 acres to support future industrial expansion.
Pointing out that the initiatives of establishing the ‘Tamil Nadu Knowledge City’ and a ‘Global City’ spread over 2,000 acres near Chennai have been undertaken, the Minister said at Sriperumbudur, India’s largest workers’ hostel with 18,720 beds has been constructed at an estimated cost of Rs.706 crore.
As a result of such pioneering initiatives undertaken by the Tamil Nadu Government, industrial growth has accelerated significantly, enabling the State to achieve a double-digit economic growth of 11.19 per cent in 2024-25, ranking first in the country.
Furthermore, the State also leads the nation in electronics exports, contributing 41.23 per cent of India’s total exports in this sector.
Observing that new TIDEL Parks are being established at Tiruchirappalli, Madurai, and Hosur at a total estimated cost of Rs.1,070 crore, the Minister said in addition, TIDEL Neo Mini IT Parks have been inaugurated at Viluppuram, Thanjavur, Salem, Thoothukudi, Tiruppur, Vellore, and Karaikudi.
Mini IT Parks are also being set up at Namakkal, Tiruvannamalai, Virudhunagar, Tirunelveli, Kanyakumari, Erode, Nagapattinam, Karur, and Pudukkottai districts at a total cost of Rs.388 crore.
Through the widespread expansion of the Information Technology sector across the State, 25,500 new employment opportunities are expected to be generated throughout Tamil Nadu.
The ‘Tamil Nadu Semiconductor Mission-2030’ is a strategic five-year roadmap being implemented at an estimated cost of Rs.500 crore. Works are currently underway at Taramani in Chennai to establish a Centre for Advanced Semiconductor Technologies in collaboration with the Indian Institute of Technology, Madras and a Centre of Excellence for the development of semiconductor design and testing infrastructure.
Stating that the ‘Tamil Nadu Shipbuilding Policy’ aimed at promoting investments in shipbuilding and marine ancillary manufacturing, is set to be unveiled shortly. Mr Thennarasu said Tamil Nadu is poised to emerge as a global hub for the shipbuilding industry.
He said SIPCOT, in association with the V.O. Chidambaranar (VOC) Port Authority, is establishing a new shipbuilding cluster at Thoothukudi at an estimated cost of Rs.5,200 crore through a Special Purpose Vehicle (SPV).
Besides, MoUs have been signed with leading shipbuilding companies including union Government’s Public Sector Undertakings and a leading global shipbuilding firm, entailing investment commitments of around Rs.30,000 crore.
In the Interim Budget Estimates, a sum of Rs.4,282 crore has been allocated for the Industries, Investment Promotion and Commerce Department, the Minister said.
