TIDCO has lined up Rs.11,359cr from 42 industries for TNDIC
The Uttar Pradesh Defence Industrial Corridor (UPDIC) has secured Rs.10,545 crore investment commitments under 69 Memorandum of Understanding (MoUs) with industry.
Giving this update in Lok Sabha on 22 July 2022, Minister of State for Defence Ajay Bhatt said Rs.1,767 crore has been actually invested by the industries in UPDIC through nodal agency the Uttar Pradesh Expressways Industrial Development Authority (UPEIDA).
Further, as per information received from Tamil Nadu Industrial Development Authority (TIDCO), investment worth potential of Rs.11,359 crore have been secured through MoUs with 42 industries for the Tamil Nadu Defence Industrial Corridor (TNDIC).
TIDCO, as the nodal agency, said actual investment worth Rs.3,176 crore has been made by the industries in TNDIC.
The respective State Governments have their own Aerospace and Defence Policy to offer support to investors through various incentives, the Minister said in a written reply to the house.
Regular interaction with all stakeholders such as DPSUs and private investors is being carried out by respective State and Union Governments to understand the challenges and address issues of investors.
No separate funds have been allocated by Central Government for setting up of the Defence Industrial Corridors, he stressed.
The new Defence companies have the autonomy to engage manpower, as per their functional requirement, added Bhatt. fiinews.com
