Team TOI
Chennai: Tamils have a rich tradition in shipbuilding dating to the Sangam period, said finance minister Thangam Thennarasu as he unveiled the state’s first ‘maritime transport manufacturing policy 2025′, which the govt believes will position Tamil Nadu as a global shipbuilding hub.
This policy aims to promote investment and innovation in ship and boat design, ship hull fabrication and ship engine production as well as generate 30,000 jobs in districts such as Cuddalore and Tuticorin, while developing the MSME sector.
The policy is part of the state’s efforts to capture a sizable share of the pie in India’s shipbuilding market, which is projected to cross $8 billion by 2033.
State finance secretary T Udhayachandran said Tamil Nadu is receiving a “very good” response from Japan and South Korea in the shipbuilding sector. “Shipbuilding is an emerging area and South Korea and Japan are showing interest. Industries will be established soon in Cuddalore and Tuticorin for which discussions are underway. This will create employment opportunities in a big way in these districts.”
Industries secretary V Arun Roy said the policy aims to capitalise on the long coastline and engineering expertise in the state. “MSMEs will be the largest beneficiaries. This sector generates huge employment opportunities. One direct job in the shipbuilding sector creates seven indirect jobs,” he said.