Tamil Nadu Cabinet Gives Nod To Industrial Projects Worth Rs 6,000 Cr

The Tamil Nadu Cabinet, led by Chief Minister MK Stalin, has approved 10 industrial projects that will attract investments totaling Rs 6,000 crore to the state. These projects will also generate employment for around 27,000 people.

Of the 10 projects, two are electric-vehicle projects, three are in general manufacturing, and one in electronics hardware. There is one project in the technical textile space. One project was cleared under the Life Sciences Policy, 2022. and two are Global Capability Centres under the Research and Development Policy. 

According to reports, Godrej Consumer Products is expected to set up one of the biggest projects in the state. They are expected to set up a plant in Tamil Nadu. According to reports, Godrej Consumer Products is expected to set up one of the biggest projects in the state. They are expected to set up a plant in Tamil Nadu. 

The factory of Salcomp, which provides chargers for Apple phones, will be expanding in the state too. Additionally, it is known that two projects, one from Pfizer and another from French company Schneider, were also approved.

The Life Sciences Policy, 2022 and the Research & Development Policy, 2022 were both released by the DMK government last year. The R&D Policy's major objective is to quadruple R&D spending in the public, business, and higher education sectors by 2030. And by 2030, convert Tamil Nadu into a knowledge-based economy that fosters excellence in both manufacturing and services. While the Life Sciences Policy planned to make the State the top location for researchers in biologics, biosimilars, and medical technology, it also sought to attract 20,000 crore in investments and create 50,000 employment.