TN mulls new policies for five sectors

The Tamil Nadu government today said it would soon announce new policies for five sectors — biotechnology, clean energy, automotive vehicle and component makers, mine and water — to maintain its leadership and attract investments.

“We have the draft policies for these sectors and it is being deliberated in the State Manufacturing Council. The final policy for the five sectors is expected to be announced in a month,” Deputy Chief Minister M K Stalin said here in his address at an event organised by the Confederation of Indian Industry.

He added the state government was keen on introducing specific policies for auto components and green energy. “Tamil Nadu accounts for 35 per cent of auto component and 80 per cent of green energy production,” said Stalin.

“To maintain leadership and to attract investments, we need these policies,” he added.

Rajeev Ranjan, principal secretary of the state industries department, said the draft policies would be finalised by the next month.

“Besides fiscal incentives, these would address other things including the entire ecosystem, like human resources, infrastructure, labour issues, etc,” said Ranjan.

“Some of the sectors already have exclusive policies, but they are old,” he added. For example, the biotech policy is 10 years old and needs to be expanded.

The government plans to sign a memorandum of understanding with the Japanese Ministry of Economy Trade and Industry tomorrow to explore investment opportunities in about 80 projects in the public-private partnership (PPP) mode.

“We have identified 80 projects in the state for collaboration with the Japanese companies interested in the PPP mode,” said Ranjan.

The Japanese government had expressed interest in developing the Chennai-Bangalore industrial corridor project, which includes building six-lane roads, a high-speed rail network and industrial estates along the route.