Tamil Nadu's defence corridor to create 1 lakh jobs in state

The defence corridor in Tamil Nadu would create at least one lakh jobs in the state. Aiming at the country's self reliance in the defence sector, the defence corrisor would also propel Tamil Nadu into leadership position in defence production. 

At present, the corridor is eyeing the target of 30 per cent of nationwide defence manufacturing.

The Tamil Nadu Small and Tiny Industries Association (TANSTIA) in association with Bharat Electronics Ltd organised Defence corridor meeting earlier this week to obtain inputs to formulate a policy for the establishment. 

"The Defence corridor meeting suggested consultant panel for preparing DPR should be constituted with experts from Defence, industries & academia from Tamil Nadu,” said C.K. Mohan, General Secretary, Tanstia. 

Last month, Prime Minister Narendra Modi announced a Rs 20,000-crore defence industrial corridor in Uttar Pradesh to boost development and create 2.5 lakh jobs at the Uttar Pradesh Investors Summit in Lucknow.

As many as 1,045 MoUs worth Rs 4.28 lakh crores have been inked. The net worth of the MoUs is equivalent to the state Budget for 2018-2019 as on day one of the two-day event, the country's three top industrialists announced to invest Rs 70,000 crore in the state and create more than 3 lakh jobs.

Modi said UP has the potential and resources to become the "growth engine" of the country and congratulated Chief Minister Yogi Adityanath for ensuring the presence of about 5,000 investors in a short span of time.

"On the occasion, I would like to announce that one of the two defence industrial corridors, announced in the Budget, would be set up from Agra to Chitrakoot in Bundelkhand. It will attract an investment of Rs 20,000 crore and create 2.5 lakh job avenues for youth," declared Modi amid thunderous applause.

He said that under the Yogi government, the foundation for a "New Uttar Pradesh" has been laid. "Instead of red tape, UP is now ready to roll out red carpet for investors," he said.

"UP is going to have two international airports, and 11 airstrips in the state will be expanded to increase air connectivity," he said. 

He added that the Centre has already sanctioned a Rs 4 lakh-crore loan to the UP government.

Adityanath assured to provide hassle-free single-window digital system clearance for government approvals, robust infrastructure and security to those making investments in the state. "Our focus is on creating about 20 lakh job opportunities in the next three years," he said.