Tamil Nadu has signed 158 Memorandums of Understanding committing investments worth Rs 438.44 billion and creating 1,00,709 jobs at the TN Rising Investment Conclave, held in the presence of Chief Minister M.K. Stalin. Among the major announcements, Sakthi Aircraft Industry will set up a state-of-the-art two-seater trainer aircraft manufacturing unit in Tirupur district with an investment of Rs 5 billion, generating 1,200 high-skilled jobs. This will be the first such aircraft-manufacturing facility in the state.

The government said the project marks a breakthrough moment for India’s aviation future and positions Tamil Nadu at the forefront of the nation’s aerospace manufacturing landscape, fuelled by homegrown innovation.

In Krishnagiri district, Cingularity Aerospace will invest Rs 0.5 billion to establish an advanced drone-manufacturing facility, creating 500 high-skilled jobs. The project will strengthen Tamil Nadu’s rapidly expanding aerospace, UAV and defence ecosystem.

Two major semiconductor-related investments were also announced. MindOx Techno will set up a semiconductor equipment manufacturing unit in Coimbatore district with an investment of Rs 3.98 billion, creating 460 jobs. Caliber Interconnects will invest Rs 30 billion to establish a semiconductor and power-electronics manufacturing facility, generating 4,000 high-skilled jobs in the region.

Other companies signing MoUs include Mahindra & Mahindra for an R&D centre for software-defined vehicles and advanced automotive technologies at SVB Tech Park; Bosch Global Software Technologies for a Centre of Excellence for Software-Defined Vehicles in Coimbatore; and the LMW Group for expansion of its engineering operations.

Addressing the conclave, Chief Minister M.K. Stalin said Tamil Nadu has earned the confidence of companies and investors through sustained efforts over the past four years.

(Source: The Print)