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 the state's Industrial Policy 2021. This policy released by the Chief Minister also talks about achieving an annual growth rate of 15 per cent in the manufacturing sector and increasing the contribution of the sector to 30 per cent of the state's economy by the end of the 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 others. Out of the 28 firms who have signed the MoUs, 10 firms are from abroad and some of the notable names include BASF Germany, Reckitt Benckiser UK, Flyjac Logistics Hitachi Transport system group Japa and Pegatron corporation Taiwan among others. 

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Meanwhile, big-ticket Indian investors include the 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, the foundation stone was also laid for the four SIPCOT industrial parks, that would cater to the needs of automobile and auto components, food processing, engineering and textile sector. 

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

Madras HC bats for liquor prohibition

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

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