Electronics clusters worth ₹1,112cr to come up in TN: Vaishnaw
What's the story
The Indian government has announced plans to set up two electronics manufacturing hubs in Tamil Nadu, with an investment of ₹1,112 crore.
The announcement was made by Ashwini Vaishnaw, Union Minister for Electronics and Information Technology.
The development comes as part of a larger strategy to boost the country's electronics industry, which has witnessed significant growth over the past decade.
Facility launch
New facility inaugurated in Sriperumbudur
Vaishnaw inaugurated Zetwerk Electronics' seventh manufacturing facility in Sriperumbudur, about 55km from Chennai. The new plant, which is part of a ₹1,000 crore investment, will manufacture electronic components for sectors including consumer durables and IT hardware. It will serve domestic as well as international markets.
Investment plans
Government investment to boost electronics manufacturing
The government has pledged ₹1,112 crore to facilitate the establishment of two large electronics manufacturing clusters in the state.
One facility will be set up in Pillaipakkam (Kancheepuram) and the other at Manalur (Thiruvallur district).
Vaishnaw stressed that these new facilities will greatly contribute to the growth of both Tamil Nadu and India.
Acknowledgment
Vaishnaw commended state governments for their support
Vaishnaw thanked state governments, including Tamil Nadu, for contributing to India's electronic exports.
He noted their contribution in making Prime Minister Narendra Modi's vision of making the domestic electronics market a $500 billion industry a reality.
The Union Minister also pointed out how the previous UPA regime had allocated a meager budget to Tamil Nadu railways as opposed to the current ₹6,636 crore to the state.