Tamil Nadu Space Tech policy 2025 targets Rs 10,000 cr investment, 10K jobs
Besides attracting investments, the cabinet, under the policy, also targets to generate 10,000 jobs in the next five years and create a talent pool for space technology.
State Industries Minister TRB Rajaa speaking regarding 'Tamil Nadu Space Industrial Policy 2025' (X)
CHENNAI: The Tamil Nadu Cabinet on Thursday cleared the ‘Tamil Nadu Space Tech Policy 2025’ and set major targets, including attracting Rs 10,000 crore investment in the sector in the next five years.
Talking to media persons at the state Secretariat after the cabinet meeting chaired by Chief Minister MK Stalin, state Industries minister TRB Rajaa said as a part of the government’s initiative to promote development in emerging sectors, mainly advanced sectors, and steer Tamil Nadu towards the next level of development, it was decided on Thursday to approve the Tamil Nadu Space Tech Policy, 2025.
Besides attracting investments, the cabinet, under the policy, also targets to generate 10,000 jobs in the next five years and create a talent pool for space technology.
“We generally focus on the manufacturing sector. However, it has been decided to turn our focus towards space tech service this time,” Rajaa said, adding the policy would offer a major fillip to Tamil Nadu in not just national but international space tech race.
Describing the support system being offered for even small startups with Rs 25 crore investment as one of key components of the policy, the Industries minister referred to the rapid advancements in space tech development and said with AI, it was possible to develop anything in Tamil Nadu.
The minister said a firm was engaged in cutting-edge rocket printing technology in Chennai at a time when Elon Musk’s SpaceX was considered a pioneer in space tech. Reasoning that the policy was approved to motivate startups in space tech, Rajaa said the state government would provide a 50% subsidy for obtaining patents in addition to creating a special package for firms investing over Rs 300 crore in the sector.
The policy also provides for extending a special package for investment in dedicated areas called Space Bays to be established in a few areas in the state.
The minister said the policy would offer great stimulus to places like Kulasekarapattinam, an emerging rocket launch station in southern Tamil Nadu.
