Connect with us

Featured

GIM 2019 To Promote Aerospace, Defence Industrial Policy Of Tamil Nadu

Published

on

The Global Investors Meet (GIM) 2019 will promote the aerospace and defence industrial policy of Tamil Nadu. This is the first significant event for Edappadi K. Palaniswami government.

The policy will be unveiled by Defence Minister Nirmala Sitharaman, the guest of honour for GIM 2019. A reference from the State government stated that teams (from Tamil Nadu) visited various countries and studied different models before composing the aerospace and defence policy. “Several stakeholders were involved in this process,” he continued.

The State government, at all recent forums and meetings with various chambers of commerce, has given clear signs to push the aerospace sector. “The upcoming aerospace park and development of aerospace policy would ensure a bright future for the State”, Chief Minister Edappadi K. Palaniswami told at the event.

According to data from presentations made by the State government, over 5,000 aerospace engineers would get work once this park is fully operational. The State announced the start-up and innovation policy with an aim to make Tamil Nadu a global innovation hub and the most preferred destination for start-ups by 2023.

The meet is crucial for the Tamil Nadu government, as it is facing tough competition from adjacent States, such as Andhra Pradesh and Telangana. GIM 2019 is assumed to see several big-ticket investments in the State.

At the first Cabinet meeting, the Tamil Nadu government gave its permission for investments proposals equaling over ₹16,000 crore. Investments worth ₹32,000 crore got the green flag at the second meeting.

At the third Cabinet meeting, investments worth over ₹15,000 crore were cleared. An executive from the State government said the GIM would be far ahead than the meet in 2015, which brought over ₹2.42 lakh crore. He stated that firms Foxconn, CPCL Refinery, Hyundai and Saint Gobain would be inking deals during the two-day meet.

A glance at the macro-economic profile of the State shows that Tamil Nadu in the 2017-18 fiscal year drew FDI of ₹22,354 crore, up from ₹14,830 crore in the same period last year.

Till November 2018, Tamil Nadu got investment proposals worth ₹10,105 crore over 83 proposals.

More News at EurAsian Times

Advertisement
Advertisement

Facebook

FEATURED

Maldives Maldives
Asia Pacific2 hours ago

Maldives Could Relinquish Control Of An Island As Chinese Loan & Pressure Mounts?

The Maldives government is now alarmed at the amount of debt it owes to China. With the coronavirus pandemic, the...

j20-vs-tejas j20-vs-tejas
Expert Reviews2 hours ago

Chinese J-20s Outgun Rafale Jets In Simulation Drills But What Will Happen In A Real-Life Air Battle?

China has been trying to intimidate India with its fifth-generation, stealth, J-20 fighter jets with the indigenously produced warplanes shooting...

World-Economic-Forum World-Economic-Forum
Featured3 hours ago

India-China Cyber War: China Second Most Powerful Cyber-Power & India Could Face The Chinese Brunt

As India and China are engaged in prolonged border tensions, India is boosting its capability to deal with cyber-attacks given...

china-detention-camps china-detention-camps
Asia Pacific3 hours ago

China Releases White Paper To Explain Its Commitment Towards Xinjiang & Uighur Muslims

Many Uighurs – around 1 million to 1.6 million, according to the World Uyghur Congress – have left China to...

INDIA-CHINA INDIA-CHINA
Asia Pacific6 hours ago

China Confirms PLA Soldiers Were Killed In Galwan Valley Clash; Claims India Suffered More

China has finally admitted that its soldiers indeed suffered casualties in the barbaric India-China border clash in Galwan Valley. The...

Trillion-Dollar-Infra Trillion-Dollar-Infra
Featured7 hours ago

Russian Mig-29 Jets Steal The Show In Donald Trump’s Fundraising Campaign For US Army

A fundraising campaign for U.S. President Donald Trump directed at gathering support for American soldiers actually displays Russian-made defence equipment...

CHINA-TAIWAN CHINA-TAIWAN
Asia Pacific9 hours ago

Is China Really Monitoring Prominent Indian Personalities Including PM Narendra Modi?

Chinese Embassy in India has outrightly rejected Indian claims that a Chinese firm has been monitoring over 10,000 Indian individuals...

China-Taiwan China-Taiwan
Americas9 hours ago

Taiwan Is “Quenching Its Thirst By Drinking Poison” – China On US-Taiwan Arms Deal

The visit by Keith Krach, an economic representative of the US, defies China's opposition to formal exchanges between the US...

russia-japan-tourism russia-japan-tourism
Featured20 hours ago

Poland Seeks The Arrest Of Russian Air Traffic Controllers For Crashing Their Plane

Poland is seeking to arrest Russian Air Traffic Controllers (ATC) for the 2010 crash at the Smolensk-Severny airport that killed...

CPEC-Project CPEC-Project
Featured21 hours ago

Did Indian Army’s “Muslim Regiment” Refuse To Fight Pakistan In 1965 War?

Social media platforms including Twitter and Facebook are buzzing with posts claiming that a “Muslim Regiment” of the Indian Army...

Advertisement