Tamil Nadu CM releases Industrial Policy 2021; assures 20 lakh jobs, 10 lakh cr investment

In an attempt to attract investments worth Rs 10 lakh crore and create employment opportunities for 20 lakh people by 2025, Tamil Nadu Chief Minister Edappadi K Paniswami released state's Industrial Policy 2021. This policy released by Chief Minister also talks about achieving an annual growth rate of 15 per cent in manufacturing sector and increasing contribution of sector to 30 per cent of state's ecomy by end of decade. 

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Tamil Nadu: CM EPS releases Industrial Policy 2021

According to media reports, 28 MoUs have been signed with a cumulative investment of Rs 28,053 crores, with an employment potential for Rs 68,775 persons. This investment includes various domains such as an electric vehicle, renewable energy, auto components, FMCG, industrial parks among ors. Out of 28 firms who have signed MoUs, 10 firms are from abroad and some of table names include BASF Germany, Reckitt Benckiser UK, Flyjac Logistics Hitachi Transport system group Japa and Pegatron corporation Taiwan among ors. 

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Meanwhile, big-ticket Indian investors include TVS group, TATA group and Tube investment. After completing 4 years of being Tamil Nadu Chief Minister, Edappadi Palaniswami inaugurated 8 completed projects at an investment of Rs 3,377 crores and employment potential for 7,139 people. Apart from this, foundation stone was also laid for four SIPCOT industrial parks, that would cater to needs of automobile and auto components, food processing, engineering and textile sector. 

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N Chandrasekaran, Tata Group who had addressed event virtually, lauded Tamil Nadu Government machinery for enabling conducive environment for business. Meanwhile, Venu Srinivasan, Chairman TVS Motors, said at event that with new industrial policy, Tamil Nadu will become a leader in emerging sectors like electronics. He expressed his happiness over Tata group leading effort. 

Madras HC bats for liquor prohibition

In a key verdict, Madras High Court on February 15 appealed to Tamil Nadu government to bring prohibition in State in a phased manner to ameliorate suffering of people. division bench of HC comprising Justices N Kirubakaran and B Pugalendhi was hearing a plea filed under Article 226 of Constitution seeking removal of a TASMAC shop situated in Thattankulam Main Road, Madurai. Accepting contention of petitioner that drunkards consume liquor sitting on both sides of road and create a nuisance, bench directed shifting of this shop to some faraway place before February 28 citing presence of a girls' school in area.

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Mega manufacturing, employment boost for TN as Palaniswami releases Industrial Policy 2021