Representational image only. File

Tamil Nadu Finance Minister Thangam Thennarasu on Friday (March 14, 2025) told the Assembly that the State Government would launch and implement the Tamil Nadu Semiconductor Mission-2030 over the next five years with an estimated allocation of ₹500 crore.

He said a ‘Semiconductor Fabless Lab’ would be established in Chennai at an estimated cost of ₹100 crore in collaboration with leading industry and academic institutions. “World-class semiconductor design companies and domestic start-ups will be encouraged to establish their design centres in Tamil Nadu,” he said while presenting the State Budget for 2025.

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He said Tamil Nadu was India’s leading State in electronics exports, accounting for 33% of the country’s total exports. “The State’s electronics exports have witnessed significant growth, rising from $1.66 billion in 2020-21 to $9.56 billion in 2023-24. To sustain this leadership in electronics manufacturing and exports, the Government is implementing various measures,” he said.

The Minister said to transform the Coimbatore region, known for its excellence in engineering and foundry industries, into a modern industrial hub, semiconductor manufacturing parks would be established in 100 acres in Sulur, Coimbatore and at another 100 acres at Palladam.

“These industrial parks will be developed in collaboration with companies from the United States, Singapore, Malaysia, and Taiwan, and will propel the economic growth of the Coimbatore region to the next level,” he explained.

Hosur Knowledge Corridor at Hosur

As part of the government’s plan to expand the information highway to all cities, a Tidel Park with high-end office facilities will be developed in Hosur, covering an area of 5 lakh sqft at a cost of ₹400 crore, besides a mini-tidel park at Virudhunagar in the coming year, creating employment for 6,600 people.

The Minister also announced the government’s plan to position Hosur, which has been witnessing tremendous industrial development, as a new hub for Global Capability Centres (GCCs) and research and development on the lines of Chennai and Coimbatore.

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“With this vision, a ‘Hosur Knowledge Corridor’ with world-class infrastructure facilities will be set up along Hosur city, akin to the transformation of Old Mamallapuram Road (OMR) in Chennai into an IT corridor. This corridor will be equipped with all necessary facilities to support the establishment of GCCs and R&D centres of leading global IT firms,” he said.

Mr. Thennarasu said that over the past four years, non-leather footwear industries were being established by leading companies in Villupuram, Ranipet, Vellore, Kallakurichi, Karur, Perambalur and Ariyalur and the State had attracted the highest foreign investment in the country in this sector so far. “To further boost this high-employment sector, two new footwear parks in this manufacturing sector will be set up in Melur, Madurai district, creating 10,000 jobs, and another in Cuddalore, generating 10,000 jobs at a total investment of ₹250 crore,” he said. The SIPCOT will establish a dedicated footwear skill training facility in Kallakurichi.

The Minister said a dedicated industrial park for the engineering and fabrication industry will be established in Trichy district, covering an area of 250 acres and creating 5,000 jobs in the central region. “In Thoothukudi, which has already drawn substantial investments in the green hydrogen and automobile sectors, a Man-Made Fibers (MMF) and Technical Textiles Industrial Park will be established. New industrial parks will be established in Cuddalore district over an area of 500 acres and in Pudukottai district over an area of 200 acres,” he said.

He said the TIDCO would establish a Centre of Excellence for advanced pump motor manufacturing and a Centre of Excellence for foundry in Coimbatore, which is holding a distinct position in the country for its pump manufacturing and foundry industry.