Tamil Nadu to set up Rs100 cr infrastructure fund for export units
Tamil Nadu to set up Rs100 cr infrastructure fund for export units

CHENNAI: The Tamil Nadu government would set up a Rs 100 crore special fund to create the infrastructure required for export-oriented organisations, said Finance Minister P Thiaga Rajan.

Rajan stated in the Assembly on Friday while presenting the state budget for 2022-23: "A special fund of Rs 100 crore would be established to provide the necessary public infrastructure for Tamil Nadu's export organisations. With contributions from industries and industry associations, this fund will be used to establish skilling centres, testing centres, export warehouses, and inland container depots." He stated that the government will contribute Rs 50 crore to the Emerging Sector Seed Fund, which will be used to make equity investments in state-based start-ups.

He said, the government will issue a new Footwear and Leather Industry Development Policy to encourage non-leather footwear and leather-related sectors to create jobs.

To boost industrial growth across the state, two electronic product manufacturing clusters would be established with the help of the central government in Pillaipakkam and Manallur, as well as new industrial parks in Coimbatore, Perambalur, Madurai, Vellore, and Tiruvallur districts.

The Tamil Nadu Industrial Development Corporation (TIDCO) will create a State Start-up Hub Centre with complete amenities at Nandambakkam in Chennai at a cost of Rs 75 crore, according to Rajan.

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