CHENNAI: Union Minister of State for Finance Pon Radhakrishnan has urged Defence Minister Nirmala Sitharaman to establish the Defence Industry Complex Corridor in Tamil Nadu which is expected to attract an investment of around Rs 1.25 lakh crore and expected to create around four lakh high paying jobs.
Radhakrishnan, in a memorandum submitted to the Defence Minister, gave a detailed account on the bright prospects available for establishing this corridor in Tamil Nadu. (On January 8, Nirmala Sitharaman had said the entire northern Tamil Nadu could be developed into a defence manufacturing corridor.)
“The presence of key defence industry players in Chennai (Kattupalli, Kalpakkam, Avadi) and the proximity of the State to Bengaluru, with the added influence of the prospect to tap the potential of MSMEs in the surrounding areas presents an opportunity to enhance the State’s scope of specialisation in the defence sector,” Radhakrishnan said.