The Tamil Nadu Cabinet on Wednesday approved industrial projects to the tune of ₹15,610.43 crore, said Industries Minister Thangam Thenarasu on Wednesday. The projects involved electric vehicle-manufacturing, cell-manufacturing plant, automobile, wireless technology, oxygen plant, and textiles, said the Minister.
“The projects are spread across the State and will come up in the districts of Krishnagiri, Theni, Pudukottai, and in suburban Chennai,” he told reporters in Chennai.The State, he said, had obtained substantial investments for numerous projects down South and is likely to obtain more.
The investments, for projects across the State, were particularly in the electric vehicles (EV) sector — both two-wheeler and four-wheeler cell-manufacturing plants, existing automobile units, wireless technology, textiles and an oxygen-manufacturing unit.
He pointed out that TATA Power had a major project in Gangaikondan, and said non-leather shoe manufacturing companies were also likely to invest in southern Tamil Nadu.
“There’s fair chance for investment in industrial units when the spaceport project comes up in Kulasekharapatnam (Thoothukudi district). Also, the industrial parks at Sriperumbudur and Oragadam, near Chennai, are likely to get further investment once the proposed greenfield international airport project takes off in Parandur,” he said.
As many as 8,726 people would be provided jobs through the proposed ventures, he added The Cabinet meeting, chaired by Chief Minister M K Stalin, was held today ahead of the Assembly session beginning on January 9 with the customary address by Governor R N Ravi.
When asked about the textile park, he said there would be two projects in E. Kumarlingapuram near Sivakasi. “One project is by the Tamil Nadu [government] and the other is by the Union government. They have plans to set up seven mega projects, and Tamil Nadu is likely to get one.”
Mr. Thennarasu said the government had amended the EV policy to extend exemption from road tax for such vehicles.
Regarding Tamil Nadu’s participation in the World Economic Forum (WEF), he said the visit was not just for [attracting] investments, but also to assert the State’s place in industrial development. “The WEF is a forum where we will explain that Tamil Nadu is the best destination for investment and [talk about] the availability of facilities in the State. We will meet new investors and the existing investors for expansion,” he said.
Reiterating that preference in employment had been given to persons from Tamil Nadu, Mr. Thennarasu said the government had conducted a study, according to which 87% of the jobs were given to persons from the State in every category.
While Tamil Nadu’s inherent strength was in the textile, automobile, and leather industries, the State had prepared itself to attract investments in emerging technologies.
“We are attracting investments in EV and Green hydrogen. Tamil Nadu has an important role in sustainable energy. New technology such as Fintech [financial technology] is coming. We have a unique place in the country because of the diversified nature of investment. If there is a decline in one industry, it will be offset by another,” he said.
According to the Minister, the EV was very important for future mobility. “Whether [it is] two-wheelers or four-wheelers, we have a supportive ecosystem. We have already secured first place in the country in EV. To retain the place, we evolve policies to adopt the changes,” he said.