CM Stalin said, Given the opportunities in the sector, the government has designated the aerospace and defence industries as the sunrise sector and we have set a goal of creating one lakh jobs and attracting Rs 75,000 crore in investment over the next ten years

Tamil Nadu released an aerospace and defence industrial policy on Tuesday, with the goal of attracting investments worth Rs 75,000 crore over a 10-year period, according to Chief Minister M K Stalin.

The government has devised plans to create one lakh new jobs in this sector, both direct and indirect, over the next ten years, Stalin said after unveiling the aerospace and defence policy at the ‘Future is Now-Towering Tamil Nadu’ conclave.

He said that the state policy aims to provide enhanced support to the micro, small and medium enterprise sector, as well as startups in this sector.

He also said that Tamil Nadu has always been at the forefront of aerospace and defence manufacturing, which he said can be proven by looking at the state's history.

“During the Chola period, Tamil Nadu's navy was the best and the Madras Regiment was the country's first infantry. After being produced in Europe and the United States, aircraft manufacturing was moved to Chennai for the first time in 1910,” he added. 

He further said, even today, the majority of aircraft components are manufactured in Tamil Nadu for the Bengaluru-based Hindustan Aeronautics Ltd and that an opportunity has arisen to increase production and achieve self-sufficiency in this sector.

“Given the opportunities in the sector, the government has designated the aerospace and defence industries as the sunrise sector and we have set a goal of creating one lakh jobs and attracting Rs 75,000 crore in investment over the next ten years,” added.

He urged the industrialists in attendance to take advantage of the opportunities available in the state, saying, “Let us all vow to make Tamil Nadu the best state in economic development not only at the national level but also in South Asia.”