Nirmala to attend Defence Corridor launch in Tiruchy on January 20

The event will be attended by Union Defence Minister Nirmala Sitharaman and senior Defence Ministry and other army officials.

The ‘Launch of Projects’ is second in the process of setting up Industrial Corridor after the inauguration of a similar facility in Aligarh. The defence production corridor will connect pre-existing defence manufacturing hubs in Kattupalli and Avadi in Chennai to Bengaluru, via Kalpakkam in Kancheepuram, Tiruchy, Coimbatore and Hosur. 

 For this purpose, several rounds of talks with various stakeholders were held last year. “The stage is now set to capitalise the immense potential in the form of clusters of MSMEs and other manufacturing enterprises to help build the corridor,” said an official press release.

Last year, Finance Minister Arun Jaitley made this announcement in his budget to set up two Defence Industrial Production Corridors in Tamil Nadu and Uttar Pradesh, aiming to boost the domestic manufacturing industry.

The government has taken various measures to provide all necessary support both in terms of policy and financial assistance for the projects in the proposed corridor, the release said.

The creation of industrial production hubs is expected to boost both the foreign and domestic investments in manufacturing. According to the experts, the project is expected to attract investments of Rs 1,50,000 crore and create 5,00,000 high tech jobs till 2030.