Chennai: Defence Minister of State Ajay Bhatt has said the Defence Corridor being set up in Tamilnadu will attract Rs 10,000 crore investment by 2024-25.
‘In the General Budget 2018-19, Central government announced setting up of two Defence Industrial Corridors (DICs) in the country. In pursuance of the said announcement, it was further decided to set up one of these corridors in Uttar Pradesh and another in Tamilnadu. Subsequently, six nodes, namely Aligarh, Agra, Chitrakoot, Jhansi, Kanpur and Lucknow were identified for Uttar Pradesh Defence Industrial Corridor (UPDIC) and five nodes, namely Chennai, Coimbatore, Hosur, Salem and Tiruchirappalli for Tamilnadu Defence Industrial Corridor (TNDIC),’ he said while replying to a question in Parliament.
‘Defence Industrial Corridors (DICs) are aimed at providing fillip to the defence manufacturing ecosystem in both States and attract investment worth Rs. 10,000 crore in each of the DICs by the year 2024-25. The respective State governments provide necessary lands, connectivity and basic infrastructure for the DIC,’ he added.