The Defence Ministry is expecting an investment of over Rs 4,000 crore in the Defence Industrial corridor in Tamil Nadu, which will be launched on January 20.
"The Defence industrial corridor will be launched on January 20 in which we are expecting major investment announcements," Secretary, Defence Production, Ajay Kumar said here on Monday.
At the corridor, which will be launched by Defence Minister Nirmala Sitharaman, several products would be unveiled along with the setting up of a defence innovation hub at Coimbatore.
The defence corridor in Uttar Pradesh was launched last year where DPSUs and private sector companies have announced investments of over Ra 4,000 crore.
Asked whether big corporates like Anil Ambani-led Reliance Industries and Adani Group were taking part in the corridor, Kumar said that "Ambani is not participating" as far as he knows.
Finance Minister Arun Jaitley, in his budget speech on February 2 last year, had announced that two defence industrial production corridors would be set up in the country to promote the domestic defence industry.
Tamil Nadu's Defence Industrial Corridor will connect Chennai, Hosur, Coimbatore, Salem and Tiruchirappalli.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app