India’s defence industrial corridor in the southern state of Tamil Nadu, which was formally inaugurated in January, has attracted investment worth INR32 billion (USD500 million), according to Indian Defence Minister Nirmala Sitharaman on 9 February.
Sitharaman also said that further investments in Tamil Nadu – and in another industry corridor in the northern state of Uttar Pradesh – will be targeted through an update to India’s defence offset policy.
The decision to set up the two corridors was announced by the government in February 2018, with Sitharaman describing the move as “landmark decisions” in efforts to “develop infrastructure and build capacity in various locations across the nation”.
Want to read more? For analysis on this article and access to all our insight content, please enquire about our subscription options at ihsmarkit.com/janes