Coimbatore: The state government will take Defense Industrial Corridor Project of Federation Government to move ahead by setting up Defense Component Manufacturing Park on 500 acres at a cost of 225 crores in Coimbatore, Finance Minister Palanivel Thiaga Ryan While presenting the revised budget for the financial year 2021-22 on Friday, he said.
The park is expected to attract 3,500 crore investment. “Although the Central Government announced the establishment of Defense Industrial Corridors connecting Hosur, Salem, Tiruchirappalli and CoimbatoreThe support of the central government has been limited,” the minister said.
Industry bodies here welcomed the announcement. KV Karthik, president of Southern India Engineering Manufacturers Association (SIEMA), said defense establishments are organizing vendor meets for sourcing components. “Defense components demand the highest level of accuracy. It will take time for domestic companies to become accustomed to such requirements. The arrival of large manufacturing companies is crucial for manufacturing high-precision equipment.”
“Indian industrial giants prefer Byehandjob Reliance and L&T are active in the defense manufacturing sector. If this park becomes a reality, then such companies can establish their base in this area for manufacturing of defense equipments.” Indian Chamber of Commerce and Industry (ICCI) Balasubramanian.
The Coimbatore District Small Industries Association (Codisia) is asking the state government to bring large industries to Coimbatore, as the central government has declared Tamil Nadu a part of the Defense Corridor project, said the Codisia president. MV Ramesh Babu. “Codisia Defense Innovation and Atal Incubation Center (CDIIC) has incubated 10 startups for manufacturing defense components and most of them are in Tamil Nadu. This year, we are incubating 15 more startups. One hundred and forty medium And small industrial units have approached us and we are in the process of identifying companies capable of supplying parts to defense units.”
“The announcement of Defense Component Manufacturing Park in the state budget is in line with our demand. While large industries are expected to invest up to Rs 3,500 in the park to manufacture defense products, MSMEs can become vendors of these industries.” Ramesh added.
The park is expected to attract 3,500 crore investment. “Although the Central Government announced the establishment of Defense Industrial Corridors connecting Hosur, Salem, Tiruchirappalli and CoimbatoreThe support of the central government has been limited,” the minister said.
Industry bodies here welcomed the announcement. KV Karthik, president of Southern India Engineering Manufacturers Association (SIEMA), said defense establishments are organizing vendor meets for sourcing components. “Defense components demand the highest level of accuracy. It will take time for domestic companies to become accustomed to such requirements. The arrival of large manufacturing companies is crucial for manufacturing high-precision equipment.”
“Indian industrial giants prefer Byehandjob Reliance and L&T are active in the defense manufacturing sector. If this park becomes a reality, then such companies can establish their base in this area for manufacturing of defense equipments.” Indian Chamber of Commerce and Industry (ICCI) Balasubramanian.
The Coimbatore District Small Industries Association (Codisia) is asking the state government to bring large industries to Coimbatore, as the central government has declared Tamil Nadu a part of the Defense Corridor project, said the Codisia president. MV Ramesh Babu. “Codisia Defense Innovation and Atal Incubation Center (CDIIC) has incubated 10 startups for manufacturing defense components and most of them are in Tamil Nadu. This year, we are incubating 15 more startups. One hundred and forty medium And small industrial units have approached us and we are in the process of identifying companies capable of supplying parts to defense units.”
“The announcement of Defense Component Manufacturing Park in the state budget is in line with our demand. While large industries are expected to invest up to Rs 3,500 in the park to manufacture defense products, MSMEs can become vendors of these industries.” Ramesh added.
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