The Tamil Nadu government is planning to create a land bank of around 16,400 acre to allot to industries. The State Industries Promotion Corporation of Tamil Nadu (Sipcot), a state-run agency, will facilitate the investments and will acquire the land across six districts.
“Administrative sanction for the land acquisition is happening,” the state industries department said in its policy note.
The nodal agency had so far developed 19 industrial complexes and allotted over 19,212 acre to more than 2,000 industrial units, which had enabled investments of over Rs 85,000 crore and generated 470,000 jobs.
A new land acquisition policy for industries will be introduced this year, along with specific policies for biotechnology, aerospace, automobiles and auto components, the department said.
According to the policy note, in the automobiles, auto components and leather products segment, the state accounts for 30-35 per cent of the country’s production, while textiles and electronic hardware contribute 20-25 per cent and software and IT enabled services 15 per cent.
The policy note added that the Tamil Nadu Industrial Development Corporation Limited (Tidco) was also planning to create multi-product special economic zones (SEZs) in Tiruvallur, Perambalur and Krishnagiri districts.
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Around 3,000 acre has been earmarked in Perambalur district, for which the Union ministry of commerce and industries had already accorded its approval. Close to 280 acre has also been identified in Krishnagiri district, it said.
“Tidco is also initiating steps for implementing an aerospace park, biotechnology core instrumentation facility, expansion of Chennai trade centre and an integrated food irradiation centre,” the policy note said.
Besides, steps are being taken to develop an integrated financial services centre near Chennai to attract both domestic and overseas financial institutions, it added.