Chennai: Tamil Nadu is set to announce a new industrial policy featuring special incentives to draw fresh domestic and foreign investment, Governor R V Arlekar informed the assembly on Thursday. The state will also establish the Tamil Nadu Investor Promotion Commission (TIPC), chaired by the chief secretary, to attract multinational corporations.
The governor stated that the state aims to become a $1.5 trillion economy by 2036 by fostering industrial growth while ensuring worker welfare. The government will enhance the ease of doing business by upgrading the single-window system into a fully digital, all-sector platform, and by granting approvals without administrative delays.
“With the aim of promoting the state’s economic stability and industrial growth while maintaining continuity with the previous industrial policies, this government will notify a new industrial policy,” Arlekar said.
The government will take steps through the investor promotion commission to provide fast-track permissions for companies investing more than ₹200 crore or creating employment for 5,000 people. Measures will also be taken to grant early permissions for starting MSMEs.
