French aerospace company in talks to set up facility in TN

A delegation from a French aerospace company on Thursday held discussions with the State government to explore the possibility of setting up a facility in Tamil Nadu at a cost of ₹2,500 crore, said Industry Minister MC Sampath.

“We have assured them all support. We have also said that we would provide whatever incentive and subsidy offered by the neighbouring States,” he said addressing a public session on TN Vision 2023: Through Transformational Leadership on the occasion of CII Tamil Nadu Annual Day 2017-18.

Later, during an interaction with newspersons, when asked whether the French company was Airbus, the minister was non-committal. “We do not comment on discussions that may or may not be going on with different stakeholders,” said an Airbus spokesperson when asked if it was investing in Tamil Nadu.”

Sampath said Tamil Nadu is ahead of most other States in attracting investments.

On the Madurai-Thoothukudi industrial corridor, the minister said Mahindra Consultancy has given its report, and a special officer will be appointed soon.

Global investors meet

On Global Investors Meet to be held in January 2019, the minister urged industry associations to help the State get an investment commitment of nearly ₹3 lakh crore.

On the aerospace park in Sriperumbudur, Sampath said 14 companies will set up their facilities in the park, and a computing centre is being set up at a cost of ₹250 crore.

With Tamil Nadu being a leader in multiple segments, including auto, auto components, textile and IT-ITeS, there is a need to re-brand and project the competitive advantage of the State in areas of infrastructure, talent pool creation and skill development, which will attract and retain investment, according to a CII report, Tamil Nadu Vision 2023: Growth Drivers, released by the minister at the event. The report called for the creation of an industry advisory board to interact with the government, on vision, policy frameworks, implementation and building ecosystems in both traditional and emerging areas.

The State government should focus on infrastructure and connectivity to tier II and tier III areas along the proposed industrial corridors to ensure inclusive and equitable growth, the report said.

Some of the CII’s key recommendations are setting up of new auto industrial parks near Tiruchi and Coimbatore; policies for aerospace and defence, textile industry modernisation, electronics and IT including IoT, cyber security and AI and healthcare; and amendments to the Industrial Disputes Act and Contract Labour Act.