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States » SouthPosted at: Apr 17 2025 11:43PM


TN Cabinet accords nod for important projects, policies like Spacetech to attract investments : Min

Chennai, Apr 17 (UNI) The Tamil Nadu Cabinet under the charimanship of Chief Minister M K Stalin met on Thursday evening and gave the nod for important investment projects and policies, including the emerging SpaceTech policy to take the state to the next step towards economic development, in
which TN is ranked Numero Uno in the country.
Talking to reporters after the meeting, Industries Minister TRB Raaja said the Cabinet gave its nod for important policies.
Stating that TN was number one in economic development, he said to take it to next level, there was need for development and growth in advanced new and emerging sectors like SpaceTech.
With a view to taking SpaceTech sector to the next level, the Cabinet gave its nod for the new SpaceTech policy-2025 under which the State has targetted to attract Rs 10,000 crore investment
in the next five years and generate employment for a minimum of 10,000 people to improve their talent and create a skilled workforce.
With these goals on mind the attention will be mainly on Manufacturing Centres and production, but this time the Chief Minister stressed the need for devoting more attention on the emerging Spacetech sector.
Asserting that Mr Stalin had given a big fillip to ensure that Tamil Nadu remained at the top at India level, nay global level, the Cabinet has given its approval for the new SpaceTech policy, the Minister said.
Apart from encouraging StartUps with Rs 25 crore, he said the meeting felt that SpaceTech developments are progressing at a rapid speed, besides promoting the AI-influenced technology in the State.
He said the SpaceTech policy was designed to promote more Startups in this sector while offering
50 per cent subsidy by the government itself for getting patents.
Moreover, the policy will ensure a special package for an investment in excess of Rs 300 crore,
Dr Raaja said, adding, it would be boon for several entrepreneurs to come to TN, especially in Kulasekarapattinam, in the Southern Thoothukudi district, where the second spaceport was fast coming up.
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Tags: #TN Cabinet accords nod for important projects# policies like Spacetech to attract investments : Min
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