TN targets inclusive industrialisation

Announces nine new industrial estates, says will set up a land bank of 2,000 acres

The Tamil Nadu government has announced a set of incentives aimed at boosting industrialisation in the southern part to ensure uniform industrial development across the state.

Accordingly, the state would soon acquire around 2,000 acres of land in a phased manner to set up nine new industrial parks. It is expecting greater flow of investments from the private sector to achieve inclusiveness in industrialisation.     

The state would offer 75 per cent subsidy for investments in the proposed industrial parks. However, maximum investment amount has been fixed at Rs 15 crore and it would give 50 per cent subsidy to companies that set up units in these parks .

Making a statement in the Assembly on Tuesday, chief minister J Jayalalithaa said the state would soon formalise setting up of a single window clearance committee under the chairmanship of chief secretary to facilitate speedy approvals for industrial parks.

The state has also upped the subsidy level to 25 per cent from the existing 15 per cent in the equipment cost for start-ups based in these parks and operating in under-developed areas. However, the maximum limit has been fixed at Rs 30 lakh.

The chief minister said Tamil Nadu Small Industries Development Corporation (Sidco) would acquire land in a phased manner for the purpose. These measures are expected to promote and encourage MSMEs across the state. The acquired project land would be sold to entrepreneurs on a non-profitable basis by Sidco.

The corporation would invest up to 10 per cent of the total project cost if private companies or industrial bodies set up industrial parks. In the first phase, one such facility will be set up at Thirumazhisai in Thiruvallur district, near Chennai.The other parks would come up in Sivaganga, Ramanathapuram, Pudukottai, Dindigul, Theni, Virudhunagar Tuticorin, Tirunelveli and Kanyakumari districts.

Under the latest drive, entrepreneurs will be allocated land at 50 per cent subsidised rate and would be offered 100 per cent reduction in stamp costs. The investment subsidy will be raised from 1.5 per cent to 2 per cent and necessary infrastructure would be created.