The DMK-led Tamil Nadu government in its budget for 2024-25 has proposed to build five new TIDEL parks (IT parks developed by the joint government venture TIDCO and ELCOT.) in Vellore, Thanjavur, Salem, Thoothukudi and Tiruppur. According to the government, this will help create 13,000 jobs in the state.
Finance Minister Thangam Thenarasu who presented the budget on Monday also announced that a payroll subsidy of 10% will be extended to new industrial units that employ over 500 women, differently-abled and transgender employees combined.
The government announced that the existing textile park in Virudhunagar district that was launched in 2023 will be developed at a cost of Rs 1,683 crore while the new Integrated textile park spanning over 111 acres of land will be developed in Salem. The anticipated investment for the park coming up in Salem was announced to stand at Rs 800 crore. Both the textile parks combined will create 2,08,000 employment opportunities, finance minister Thangam Thenarasu said.
The government said that it will develop an industrial park in Thanjavur region at a cost of Rs 120 crores. An IT park is to be set up in Coimbatore at the cost of Rs 1,100 crore.
Vijayabaskaran, a member of the State Planning Commission and an Economics professor at Madras Institute of Development Studies told TNM, “The focus is primarily on employment generation but the announcements have made it clear that the government is concentrating on ensuring spatial and social inclusion. The new industries and IT hubs are all spread out across districts which indicates the distribution of development. The 10% payroll subsidy is also a positive move towards being socially inclusive.”
The government has also announced that new skill development centres will be established. They said that 45 Polytechnic colleges will be upgraded to meet Industry 4.0 standards.