A major manufacturing hub, Tamil Nadu government on Thursday proposed a series of measures to give a fillip to the industries sector, including pushing for the Madurai-Tuticoin Industrial corridor which, it said, would attract Rs 1.90 lakh crore investment over a period of 10 years.
In the 2013-14 budget, Finance Minister O Panneerselvam said Government would create a land bank of 25,000 acres through State Industries Promotion Corporation of Tamil Nadu (SIPCOT) to attract more industries.
It also proposed a ship-building yard at Tuticorin by Tamil Nadu Industrial Development Corporation (TIDCO).
“In 2013-2014, the Government will give a push to the development of the Madurai-Thoothukudi (Tuticorin) Industrial Corridor. The project proposes to create four manufacturing regions, one agri-business region, two business investment regions, a special tourism zone, one rural tourism hub and one knowledge hub. This will attract Rs 1,90,000 crore of industrial investment over a period of 10 years,” he said.
A special package of incentives to encourage investments for development of the industrially backward districts of Southern Tamil Nadu will be announced soon, he said, adding this was expected to attract more investments facilitating economic development and creating more jobs in the southern region.
Further, the government would soon unveil a special package to stimulate and revitalise the Micro, Small and Medium Enterprises sector, he added.
via The Hindu Newspaper http://www.thehindu.com/news/national/tamil-nadu/tn-budget-gives-fillip-to-industrial-sector/article4533683.ece
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