What’s inside TN’s new export policy

Chennai: Chief Minister M K Stalin on Wednesday unveiled the Tamilnadu Export Promotion Policy that aims to increase its exports to USD 100 billion by 2030.

Releasing the policy at the Tamilnadu Exports Conclave here, Stalin said the State will adopt a two-pronged approach–export promotion and export diversification, to achieve this objective.

As per the policy, Tamilnadu would develop two Economic Employment Enclaves in Manaellore and Thoothukudi to ensure balanced growth of exports across the State.

It said the state has identified 10 Export Hubs and shall strengthen export related common infrastructure projects in these hubs by reimbursing 25 per cent of the project cost, subject to a ceiling of Rs 10 crore per Export Hub.

As per the policy, schemes have been formulated to provide special package incentives in order to encourage exporters to produce value-added products.

In a major boost to industry and to increase exports, the Tamilnadu government on Wednesday signed 24 MoUs with 100 per cent with a cumulative investment of Rs 2,120.54 crores, creating employment opportunities for 41,695 people.

The MoUs were signed on behalf of the Industries and MSME departments in the presence of Chief Minister M K Stalin at the Tamil Nadu Exports conclave being held with the theme ‘growth in Exports, TN in Forefront’.

While 14 MoUs were signed on behalf of the Industries Department with the 100 per cent Export Oriented Units, with a cumulative investment of Rs 1880.54 crore, that would create employment opportunities for 39,150 persons.

Another 10 MoUs were signed on behalf of the MSME Department, with a cumulative investment of Rs 240 crore, providing employment opportunities for 2,545 persons.

In all 24 MoUs were exchanged with a total investment of Rs 2120.54 crore which would generate employment for 41,695 persons.

These investments have been made in various sectors, including textiles, chemicals, IT / ITES, steel, leather, apparels and general manufacturing.

It is significant to note that these investments will be made across the state in various locations like Chennai, Kanchipuram, Tirupathur, Krishnagiri, Madurai, Salem, Tiruchirappalli, Thanjavur, Thoothukudi, Dindigul and Tirunelveli Districts ensuring balanced growth throughout the State.

 

NT Bureau