Two defence corridors set up to attract Rs 20,000-cr investment: Govt

New Delhi [India], April 3 (ANI): The central government has set up two Defence Industrial Corridors (DICs) in order to attract total investment worth Rs 20,000 crore by the year 2024-25 for defence industries, develop domestic supply chain and strengthen defence manufacturing ecosystem in the country, informed the Ministry of Defence on Monday.
In a written reply to Rajya Sabha MP Sanjay Singh, Minister of State for Defence Ajay Bhatt said, in Uttar Pradesh Defence Industrial Corridor (UPDIC), there are six nodes namely, Aligarh, Agra, Jhansi, Kanpur, Chitrakoot and Lucknow and in Tamil Nadu Defence Industrial Corridor (TNDIC) fivenodes namely, Chennai, Hosur, Coimbatore, Salem and Tiruchirappalli.
Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) is the nodal agency for UPDIC and Tamil Nadu Industrial Development Corporation (TIDCO) is the nodal agency for TNDIC. Both the States have promulgated their respective Aerospace & Defence Policy to attract investments in DICs.
As per available information, 108 Memorandum of Understanding (MoU) have been signed with industry/organisation in UPDIC having potential investment of Rs 12,191 crore.
Investment of Rs 2,445 crore has been made and 1,611 hectare of lands has been acquired so far for development of UPDIC. Further, in Tamil Nadu, arrangements have been made through MoUs etc with 53 industries for potential investment of Rs 11,794 crore.
Investment worth Rs 3,894 crore has been made and 910 Hectare of land has been acquired so far for development of TNDIC. The DICs have been established to develop a holistic defence manufacturing ecosystem which is a progressive and ongoing process, said the Ministry of Defence. (ANI)