CM announces expansion of Sriperumbudur aerospace park

Delivering his inaugural address at the second edition of the Global Investors Meet (GIM-II) here, Palaniswami said, “To encourage aerospace and defence manufacturing, our government has promoted an exclusive aerospace and defence park in 250 acres that can be expanded to 700 acres in Sriperumpudur, which is both an automobile components and electronics hub.”

Further, Palaniswami said that GIM-II has far exceeded expectations as proposals for new investments have already been pouring in the last one year, since they started preparation for the meet. “GIM-2019 is not only a grand success but will be remembered as a historic event in the annals of industrialisation of Tamil Nadu. The primary objective of our GIM is to showcase the opportunities in TN and attract investments, so as to retain the ‘numero uno’ position of our state,” the Chief Minister said.

He further said that with a population of 7.2 crore, of which 80 per cent are literate and nearly 50 per cent were urbanised, Tamil Nadu is an innovation-based economy with a strong performance in manufacturing and services.

Recalling the recent awards by the international consultancy firm ‘Frost and Sullivan’ and NCAER ranking Tamil Nadu as a leading state in investment potential, he said that TN industrial base is diversified and holds leading position in textiles, leather, automobiles and auto components, heavy and light engineering, electronics manufacture, information technology and information technology enabled services and health care.

He further said that the state will also introduce environmentally friendly electric buses in the metro cities and will shortly launch an electric vehicles policy for promoting new gen electric vehicles with appropriate incentives.