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Aspiring trends emerging in Tamil Nadu’s aerospace sector

Somany assures FICCI support


Somany assures FICCI support

FICCI National Executive Committee Meeting in Chennai on 6 Nov 2019.

Conscious development in the auto manufacturing ecosystem has yielded desired results to make Tamil Nadu the manufacturing hub of India, and a similar trend is emerging in the aerospace sector, said M.C. Sampath, the State’s Minister for Industries, Steel Control, and Special Initiatives.

“The Tamil Nadu government is committed to supporting the aerospace sector through specific plans and policies and creating an integrated ecosystem for the growth of the aerospace sector,” he said while addressing the National Executive Committee Meeting (NECM) of the Federation of Indian Chambers of Commerce and Industry (FICCI) in Chennai on 6 Nov 2019.

Mentioning the successes in auto and electronics sectors, the minister also highlighted the state’s focus on petrochemicals.

Elaborating on the steps that will take the state to the next level of industrial development, Sampath said, “Our SIPCOT has 21 industrial parks with all infrastructural facilities which will provide industrial plots to industries in need. New industrial parks are also under development at Manalur near Chennai, and Tindivanam and Manapparai near Trichy”.

“Further, the Chennai-Bengaluru Industrial Corridor and Chennai-Kanniyakumari Industrial Corridor projects will also commence soon. These projects will improve the state’s economy as a whole.”

Pointing out that Tamil Nadu is a leading destination for foreign direct investment in the country, Sampath said that the efforts to attract more investments into the state will continue, especially in facilitating the relocation of the industry to the state.

FICCI President Sandip Somany, in his welcome address, pointed out that “Investment promotion requires continuous efforts”.

He assured that FICCI with its membership base, strong networking, intellectual capabilities and the experience of doing similar investment promotion activities for various states, could add a lot of value to this exercise.

“FICCI would be happy to work shoulder to shoulder with the state government in these endeavours to take the development process of Tamil Nadu to the next level.”

Collaboration with different stakeholders is critical to the banking sector and Indian Bank is specially focused on this aspect, added its managing director and CEO Padaja Chunduru.

“MSMEs are very important for the country and Indian Bank wants to involve them in a broader way,” said Chunduru appreciating FICCI’s efforts to engage various stakeholders through regular interactions and promised to take part in future deliberations also.

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