Chennai: With the aim of attracting investments of about Rs 75,000 crore over a ten year period, Tamil Nadu November 8 released an aerospace and defence industrial policy, said Chief Minister M.K. Stalin stating that the state government has drawn up plans to generate new jobs of one lakh comprising direct and indirect in 10 years in this sector, after unveiling the aerospace and defence policy at ‘Future is Now-Towering Tamil Nadu’ conclave.

The policy aims at providing enhanced support to the micro, small and medium enterprises sector and startups engaged in this sector, he added.

Maintaining that Tamil Nadu has always been at the forefront in aerospace and defence manufacturing, Stalin said this has been proven if one looks into the history of the state.

“Tamil Nadu’s navy during the Chola period was the best while the country’s first infantry was the Madras Regiment. Aircraft manufacturing moved to Chennai in 1910 for the first time after being produced in Europe and in the United States,” he said.

He pointed out that even today, the majority of aircraft components were produced in Tamil Nadu to serve the Bengaluru-headquartered Hindustan Aeronautics Ltd and currently an opportunity has emerged to boost production and attain self-sufficiency in this sector.

“Considering the opportunities available in the sector, the government has announced the aerospace and defence industries as the sunrise sector,” he said. “We have set a target to generate one lakh jobs besides attracting Rs 75,000 crore investments over the next 10 years.”

Tamil Nadu and Uttar Pradesh are the two states that have a defence industrial corridor.

Appealing to the industrialists present at the venue to utilise the opportunities available in the state, he said let us all vow to make Tamil Nadu emerge as the best state in economic development not only at national level but also in South Asia.