STOCK MARKET BSE NSE

Union Budget 2018: Nirmala Sitharaman welcomes defence industry corridor

Elated over the announcement on  setting up of two defence industry production corridors in the Budget,​she said such a corridor would give an impetus to the defence industry production in the state.

Published: 02nd February 2018 03:08 AM  |   Last Updated: 02nd February 2018 04:50 AM   |  A+A-

Defence Minister Nirmala Sitharaman (File | PTI)

By Express News Service

CHENNAI: Elated over the announcement on  setting up of two defence industry production corridors in the Budget, Defence Minister Nirmala Sitharaman said such a corridor coming up in Tamil Nadu would give an impetus to the defence industry production in the state.

“The announcement by Finance Minister has paved the way for setting up the defence production corridor in Tamil Nadu. This shall provide an impetus to the defence production in the country, and in the region, in particular,” she stated.

Referring to a recent defence industries development meet held in Chennai, she recalled that the meet attracted huge participation from defence industries including MSMEs from Chennai, Mysuru, Coimbatore, Salem and Tiruchy  and from other states as well. The meet highlighted the prevailing ecosystem, albeit scattered, conducive to defence production in Tamil Nadu.

Thanking the Finance Minister for the path-breaking announcements, Nirmala Sitharaman stated that these were the first defence production corridors being formed in the country and would give big boost to defence production.

Arun Jaitley announced in the Budget that measures would be taken to develop two Defence Industrial Corridors in the country and draft a Defence Production Policy, 2018 to promote domestic production, but he did not mention the sites where the two proposed corridors would come up.

More from Tamil Nadu.

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

IPL_2020
flipboard facebook twitter whatsapp