Aerospace & Defense Industrial Policy Is Introduced In Tamil Nadu

According to Chief Minister MK Stalin, Tamil Nadu unveiled an industrial policy for aerospace and defence on Tuesday in an effort to attract investments worth Rs 75,000 crore over a ten-year period. Following the announcement of the aerospace and defence strategy at the colloquium "Future is now-Towering Tamil Nadu," Stalin stated that the government has plans to create 1 lakh new jobs, both direct and indirect, in this industry over the course of 10 years.

According to him, the strategy aims to offer startups working in the micro, small, and medium firm sector better support. Stalin argued that if one looks at the history of the state, it is clear that Tamil Nadu has always been at the forefront of aerospace and defence industry.

He emphasized that the majority of aeroplane parts are still made in Tamil Nadu for the Hindustan Aeronautics Ltd., which has its headquarters in Bengaluru, and that a chance has recently arisen to increase production and achieve self-sufficiency in this industry.

Furthermore, the government has provided a complete exemption from electricity tax on power purchased from TANGEDCO or generated and consumed from captive energy sources, as well as a 100% concession on stamp duty owed on the lease or purchase of government lands.