Tamil Nadu Defence Industrial Corridor Inaugurated
The Union Defence Minister Nirmala Sitharaman inaugurated the Tamil Nadu Defence Industrial Corridor. During the inauguration, investments worth over Rs 3,038 crore in this defence corridor were announced. Lockheed Martin, a global security giant, also announced its intention to invest in the corridor.
About the Corridor
The important features about the Tamil Nadu Defence Industrial Corridor are:
- It is also called as Tamil Nadu Defence Production Quad as the nodal cities of Chennai, Hosur, Salem, Coimbatore and Tiruchirappalli form a quadrilateral with one of them at the centre.
- The five nodal cities already have existing defence ecosystem in the form of ordnance factory boards, vendors working with defence PSUs, and other allied industries.
- Together with helping in accelerated growth and regional industry agglomeration, the defence corridor will also facilitate a well-planned and efficient industrial base which will lead to increased defence production in the country and the region.
- The corridor will help the industry to integrate with the global supply chain of Defence manufacturing.
- Tamil Nadu Defence Industrial Corridor would be a specialised facility of aero component manufacturing.
- Tamil Nadu Defence Industrial Corridor is the country’s second defence industrial corridor after the first one was launched in Aligarh, Uttar Pradesh August last year.
Tamil Nadu currently ranks 4th in exports with 9.8% of India’s total exports. The corridor will further expand the exporting opportunities from the state.
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Month: Current Affairs - January, 2019