Thangam Thennarasu, the Finance Minister of Tamil Nadu, presented the State Budget for the year 2025-26 today (14th March 2025), with several welcoming announcements aimed at driving growth in the state. Among the key highlights, many initiatives have been proposed for the industries and workforce sector. Let us take a look at the major announcements from the TN Budget 2025:
- A 2,000-acre modern city near Chennai, featuring IT parks, Fin-Tech zones, R&D centres, and residential complexes. The city will be connected through metro, express buses, and road networks.
- 10 new Industrial Training Institutes (ITIs) with an investment of ₹152 crore, aimed at training 1,308 students annually. Additionally, 7 ITIs will be set up for the children of construction workers, training 1,370 students per year.
- ₹20,000 subsidy for 2,000 gig workers to purchase electric scooters, along with group insurance for 1.5 lakh gig workers. New worker lounges will be established in Chennai and Coimbatore.
- Semiconductor Mission 2030 with an investment of ₹500 crore, including the establishment of semiconductor parks in Coimbatore (Sulur & Palladam, each spanning 100 acres).
- The creation of non-leather footwear hubs generating 1 lakh jobs, 80% of which will be for women. Footwear parks will also be set up in Madurai and Cuddalore, generating an additional 20,000 jobs.
- Industrial parks will be developed in Trichy, Thoothukudi, Cuddalore, and Pudukottai.
- Coimbatore Pump Industry Excellence Centres will be established to boost the foundry sector.
- A new airport will be developed in Rameshwaram, with ₹2,938 crore allocated for the expansion of airports in Chennai, Coimbatore, Madurai, Trichy, and Thoothukudi.
- Hosur is set to become a new hub for Global Capability Centres (GCCs), R&D, and IT, akin to the OMR region in Chennai.
- A Bioscience Park near Chennai will be developed, providing high-end infrastructure for biotech and life sciences manufacturing.
- The Tamil Nadu Maritime Transport Manufacturing Policy 2025 will focus on investments in ship design, fabrication, and engine production, creating 30,000 jobs in Cuddalore and Thoothukudi.
