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The Tamil Nadu Government plans to create a 16,400-acre land bank to allot to industries.
The State Industries Promotion Corporation of Tamil Nadu, a State-Government agency to facilitate investments will acquire the lands across six districts.
The land bank will be a ready supply for allocation to industrial investors planning projects in the State. The administrative sanction for land acquisition is happening, according to the policy note on Industries tabled in the Assembly today.
The industry promotion agency has developed 19 industrial complexes, allotted over 19,212 acres to more than 2,000 industrial units, which have enabled investments of over Rs 85,000 crore and generated 4.70 lakh jobs.
The State Government will be announcing a land acquisition policy for industries this year.
This, along with specific policies such as industrial policy, biotechnology policy, aerospace industrial policy, automobiles and auto components industry policy to be announced this year, will facilitate industrialisation.
Tamil Nadu has a diverse manufacturing sector that account for a major share of the country's industrial output.
According to the policy note in automobiles, auto components and leather products, the State accounts for a 30-35 per cent of the country's production, textiles and electronic hardware 20-25 per cent and in software and IT enabled services 15 per cent.
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