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Tamil Nadu Industrial Development Corporation

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Tamil Nadu Industrial Development Corporation
Company typeGovernment of Tamil Nadu
IndustryIndustry Promotion, SEZ
Founded1965; 59 years ago (1965)
HeadquartersChennai, Tamil Nadu, India
Area served
Tamil Nadu, India
Key people
Thiru Debendranath Sarangi, IAS (Chairman)
OwnerGovernment of Tamil Nadu through Department of Industries (Tamil Nadu)
Websitewww.tidco.com

Tamil Nadu Industrial Development Corporation (TIDCO) is a governmental agency in the state of Tamil Nadu, India. It is responsible for the development of industries in the state by formulating policies that help industry growth, and by establishing industrial estates. It often partners with TANSIDCO (Small Industries Development Corporation). TIDCO has established the Tidel Park in Chennai and Tidel Park in Coimbatore for information technology companies, and Ticel Park in southern Chennai (near Tidel Park) for chemical companies.

Objectives

TIDCO was established with the following objectives[1]

  • To plan and execute projects for setting up of industries or developing lines of production.
  • To establish and administer industries for production of plant, machinery, tools, implements, materials, chemicals substances, goods or things of any description which in the opinion of the Company are likely to promote or advance the industrial development of the State of Tamil Nadu.
  • To promote and operate schemes for industrial development of the State of Tamil Nadu and to prepare feasibility reports, project reports market studies, blue prints, and statistics.
  • To engage in the processing and manufacture of metallic products, chemicals, cement, sugar, yarn, plants, machinery or any other commercial, consumer or industrial products.

Current projects

IT parks

Tamil Nadu was one of the first states in the Indian Union to formulate an IT policy. In 1997, the state government released an industry specific policy for the IT industry to achieve the goals spelt out in the ninth Five Year Plan. However, the pace of change in the IT industry necessitated a revision of the plan. In 2002, the government of Tamil Nadu released a new IT policy.

As per the 2002 report of NASSCOM, IT and IT-enabled services industry will account for over 7% of India's GDP and 30% of foreign exchange within a decade. This revolution will generate over four million jobs in the Knowledge sector (IT and ITES industries). The government of Tamil Nadu released an ITES policy in 2005 to highlight the advantages of ITES investment in the state.

  1. The Government of Tamil Nadu has enacted several proactive measures to enable IT and ITES companies to do business in the State with utmost ease and felicity
  2. The Government has granted 50% exemption of stamp duty for IT companies towards land registration and office construction
  3. The Government has extended 30% subsidy to small and medium enterprises on stall rent for participation in national and international exhibitions
  4. The Government has relaxed Floor Space Index (FSI) norms to IT Buildings to enable the entry of smaller IT companies

In addition, the Government of Tamil Nadu has also made a pioneering effort to promote computing in Tamil with innovative measures such as :

  • The government has set up Tamil Virtual University,
  • The government has created a society for providing web based certificate course for the international Tamil community,
  • The government has commissioned Research and Development projects in Tamil computing.

The policies of the government are formulated and released by the Department of Information Technology, which is also responsible for policy implementation.

List of IT parks in Tamil Nadu:

SEZs

A policy was introduced on in April 2000 for the setting up of Special Economic Zones in the country with a view to a hassle free environment for exports. Units may be set up in SEZ for manufacture of goods and rendering of services. All the import/export operations of the SEZ units are on a self-certification basis.

The policy provides for setting up of SEZs in the public, private, joint sector or by state governments. It is also envisaged that some of the existing Export Processing Zones would be converted into Special Economic Zones. Accordingly, the government has converted Export Processing Zones located at following places.

Joint ventures

JVC in TIDCO

JV company name Private promoter TIDCO share holding Website Chief Executing Officer
Titan Industries Tata Group 27.88%[2] www.titan.co.in
Tanfac Industries Limited Aditya Birla Group 26.015%[3] https://www.tanfac.com Sendhil NaathanK
Tamil Nadu Iron Ore Mining Corporation Limited (TIMCO) JSW Group – Jindal Vijayanagar Steel Limited http://www.tidco.com/iron.html
Tidel Park Limited Electronics Corporation of Tamil Nadu http://www.tidelpark.com/
Mahindra World City Developers Limited Mahindra Group http://www.tidco.com/mahindra.html & http://www.mahindraworldcity.com/
Southern Petrochemical Industries Corporation M A Chidambaram Group 4.34%[4] http://spic.in
Tamil Nadu Petroproducts Limited Southern Petrochemical Industries Corporation http://tnpetro.com/
Tamil Nadu Salt Corporation Limited www.tnsalt.com
Southern Structurals Limited (SSL)
State Industries Promotion Corporation of Tamil Nadu www.sipcot.com
Tamil Nadu Industrial Development Corporation www.tidco.com


Titan Industries Ltd

Titan Industries Limited (TIL) was promoted as a Joint Sector Company to manufacture watches during 1985 in association with Questar Investments Limited, one of the TATA Group companies. TIL began commercial production in March 1987. TIDCO's holding in the paid up capital of the company is 27.88%. TIL clocked its best ever performance in the year ended 31 March 2006, with a sales turnover of Rs. 67.26 billion (growth of 33% over the previous year) nearly 70% increase in profit after taxes of Rs. 4382 million (an increase of 70% Y-o-Y). The Watch Division (Titan Brand and Sonata Brand) was able to achieve a sales turnover of ₹ 1,272 Crores; Jewellery Division (Tanishq) ₹ 5,027 Crores and other products ₹ 4.27 billion. TIL continues to declare dividend on its equity shares since from the year of commercial production.

Titan Industries has manufacturing units near Coimbatore and Hosur in the state.

TICEL BIO-PARK Ltd

TICEL acts as a focal hub for Biotech R&D industry in major domains of Biotechnology such as Medical Biotechnology, Nutraceuticals, Agricultural Biotechnology and Bioinformatics.

For further details, visit [1]

TANFLORA Infrastructure Park Ltd

Tanflora Infrastructure Park Limited, is a joint venture company of TIDCO & MNA & Associates, established at Amudagondapally village, Hosur, Krishnagiri District, Tamil Nadu. The project is conceived to be one of the largest production facilities for cut roses in the world, with a total production capacity of 67.5 million roses per annum. The project is a co-operative farming concept developed on the lines of Aggrexco of Israel. It is divided into 25 grower units of two hectares each, while the centralised common infrastructure is developed, owned and operated by Tanflora. All the 25 grower units have been allotted to 25 companies. Tanflora has also 1.5 hectares of its own production facilities and proposes to expand to five hectares.

Tanflora is the country's first Agri Export Zone for cut flowers. The government of Tamil Nadu had supported the project by providing funds under ASIDE Scheme for developing infrastructure. APEDA, Ministry of Commerce provided financial assistance for establishment of post harvest facilities. National Horticulture Board provided capital subsidy to the growers.

The roses grown by the growers are collected and processed in the facilities of Tanflora, packed and marketed under the brand name of Tanflora, and exported to Europe, Australia, the Middle East, the Far East and Japan. Flowers are sold in the domestic market mainly in Delhi, Hyderabad, Chennai etc. The sale proceeds are shared in the ratio of 70:30 on FOB basis between the growers and Tanflora.

‘Taj Mahal’, symbol of love, is a new rose variety, owned and grown by Tanflora worldwide, having obtained the rights from a French breeder. The company is in the process of producing a new variety of rose viz ‘Kohinoor’ jewel of India, on similar lines of Taj Mahal.

References

  1. ^ "Objectives of Company" (PDF). tn.gov.in. Retrieved 30 October 2012.
  2. ^ "SHARE HOLDING AS OF Dec 2014" (PDF). titan.co.in. Retrieved 4 March 2015.
  3. ^ "SHARE HOLDING AS OF March 2013" (PDF). tanfac.com. Retrieved 4 March 2015.
  4. ^ "43rd ANNUAL REPORT 2013 – 2014" (PDF). spic.in. Retrieved 26 March 2015.
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