C Shivakumar
Chennai:
Tamil Nadu government would be creating a venture capital funding
mechanism with a corpus of Rs 100 crore for aerospace industries
wanting to invest in the state, industry sources said.
Sources said the assistance would be provided to those industries
which will invest in research and development technology centres,
cluster development and aircraft manufacturing units.
Besides the government would also create a new entity for assisting
aerospace industries to obtain necessary certification in short
time-frame.
In a bid to create amenable investment climate, the state would also
pursue with the Union government for framing regulatory measures and
taxation regime conducive for the growth of aviation industry that
will cover MRO service and defence supplies.
The proposal is also there with the government to offer anchor unit
subsidy of Rs 500 lakh to first 10 aerospace OEM and Tier I
entreprises with a minimum investmernt of Rs 100 lakh and direct
employment of 100 persons.
This subsidy shall be given for the Aerospace OEMs and Tier I
enterprises coming up anywhere in India.
There is also a proposal of providing industrial infrastructure
subsidy of Rs 2 crore for developing aerospace or defense parks
involving investment of Rs 200 crore or more (including land cost)
within three years.
The government would also be offering 50 per cent exemption from stamp
duty on lease or sale of land meant for industrial use for projects
loacted in aerospace or defence industrial parks. The stamp duty will
be calculated based on actual land or building value paid by
manufacturing units.
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