CHENNAI: Tamil Nadu is preparing to roll out a dedicated shipbuilding policy and anchor a Rs 5,200-crore shipbuilding cluster at Thoothukudi, signalling a sharper industrial push backed by Rs 4,282 crore earmarked for the industries and investment promotion department in the interim budget.
Presenting the budget on Tuesday, Finance Minister Thangam Thenarasu said manufacturing, technology and large infrastructure projects would underpin the state’s ambition of becoming a $1-trillion economy by 2030.
The proposed shipbuilding cluster, to be developed in association with the V.O. Chidambaranar Port Authority, is supported by memorandum of understanding worth about Rs 30,000 crore.
Since the current government assumed office, Tamil Nadu has signed 1,179 MoUs, committing investments of Rs 12.37 trillion and potential employment for 3.6 million people, driven through platforms such as the Global Investors Meet and TN-Rising.
Industrial infrastructure is being expanded beyond established hubs. The number of SIPCOT industrial parks has risen to 54, spanning 49,468 acres, from 24 parks across 15 districts before 2021.
Land acquisition is under way for another 28,392 acres, in line with the state’s plan to establish industrial parks in every district.
Around Chennai, the government is developing a 2,000-acre Tamil Nadu Knowledge City and Global City, while a workers’ hostel with 18,720 beds has been built at Sriperumbudur at a cost of Rs 706 crore.
The budget also highlighted Tamil Nadu’s 11.19% growth in 2024-25 — the highest among states — and its position as India’s largest electronics exporter, accounting for over 41% of national exports.
On the technology front, new TIDEL Parks in Tiruchirappalli, Madurai and Hosur, along with mini IT parks in smaller cities, are expected to generate 25,500 jobs. A Rs 500-crore Tamil Nadu Semiconductor Mission-2030 is under way, including a semiconductor technology centre in collaboration with Indian Institute of Technology Madras.