Tamil Nadu today announced its new Industrial Policy 2021 with an aim to garner investments worth about Rs 10 trillion by 2025. The state s Chief Secretary, Rajeev Ranjan, said the objective of the policy is to attract investments worth Rs trillion and create employment opportunities for two million by 2025. The Policy also aims to raise the contribution of the manufacturing sector to 30 per cent of the State s economy by 2030. Ranjan said Industrial policy 2021 aims to achieve an annual growth rate of 15 per cent in manufacturing. Tamil Nadu also announced MSME Policy 2021, which has set a target to attract new investments worth Rs two trillion in the sector by 2025 and create additional employment opportunities for two million people.
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Cabinet approves Tamil Nadu Industrial Policy 2021
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Cabinet approves Tamil Nadu Industrial Policy 2021
The Tamil Nadu Cabinet on Friday accorded approval for 34 major proposals for investments to the tune of ₹52,257 crore in the State. The Cabinet meeting, chaired by Chief Minister Edappadi K. Palaniswami at the Secretariat, also cleared the Tamil Nadu Industrial Policy 2021, which will be unveiled soon.
The investments are likely to create over 93,000 jobs in the electronics, automobile and auto components sectors, including electric vehicles and solar cell manufacturing, according to an official release. “The incentive packages have been customised to suit the requirements of each investor,” it said. The government had entered into facilitation memoranda of understanding (MoUs) with some investors to enable them to undertake preliminary works. “Now, with the Cabinet approval, detailed legally binding MoUs will be executed,” the release sa