What is (TIDCO) Tamilnadu Industrial Development Corporation?

TIDCO or Tamilnadu Industrial Development Corporation was established to develop industrial infrastructure in Tamilnadu. Industrial development is an essential part of any economy. It’s what helps businesses grow and expand, and it’s what creates jobs. In today’s blog post, we’re looking at one such organization in Tamilnadu—the Tamilnadu Industrial Development Corporation. TIDCO is responsible for spearheading industrial development in the state of Tamilnadu, and it does so by providing a range of services and resources to businesses. If you’re looking to start or expand your business in Tamil Nadu, be sure to check out TIDCO’s website and services.

History of the Tamilnadu Industrial Development Corporation (TIDCO)

The Tamil Nadu Industrial Development Corporation (TIDCO) was established in 1965. The Tamil Nadu government acted on the recommendations of the Committee on Industrial Development constituted under the chairmanship of Dr. C. Subramanian Pillai, in 1965, a resolution was passed in the State Assembly making provision for the establishment of an industrial development corporation with a view to promote industrialization in the state and to achieve self-reliance within a period of ten years.

TIDCO commenced its activities by taking up projects in major sectors like textiles, leather, and machinery. In subsequent years it has taken up projects in telecoms, electrical engineering, food processing, and the automobile industry. The corporation has so far completed 126 major projects involving an investment of Rs 34,423 crore. Out of these 126 projects 103 have been completed thereby contributing significantly to the economic development of the state.

Functions of the Tamilnadu Industrial Development Corporation(TIDCO)

The Industrial Development Corporation of Tamilnadu (IDC) was established by an Act of the State Legislature in 1962 with the primary objective of developing and promoting industrialization in the state. The IDC has played a major role in developing the state’s industrial sector and is currently responsible for implementing over 50 industrial projects across a wide range of sectors.

The TIDCO key functions include:
– spearheading industry development initiatives;
– attracting foreign investment;
– providing financial support to industries;
– negotiating on behalf of industry associations;
– coordinating research and development programs;
– promoting exports; and,
– disseminating information about industry developments.

Projects and Initiatives of the Tamilnadu Industrial Development Corporation

TIDCO is the Nodal Agency for the development of Chennai Bengaluru Industrial Corridor (CBIC), Chennai Kanyakumari Industrial Corridor (CKIC), Western Corridor (Kochi – Bangalore Industrial Corridor) and Defence Industrial Corridor projects. The TIDC functions as a development financial institution with the objective to promote industrialization and create employment opportunities in the State of Tamil Nadu. The Corporation has been instrumental in developing industries and infrastructure in Tamil Nadu.

Some of the major projects and initiatives undertaken by TIDC include:
-The establishment of textile and garment factories near Salem and Coimbatore
-Development of steel plants at Srivilliputhur and Neyveli
-Investment in the pharmaceuticals sector through the establishment of facilities at Madurai and Dharmapuri
-Creation of IT parks at Coimbatore and Tirunelveli

Industrial Area Developed by TIDCO

TIDCO has developed an industrial area in Chennai, which is home to over 60 companies. TIDCO has established 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. Apart then these TIDCO has helped and developed these SEZ in Tamilnadu –

• Nanguneri SEZ
• Ennore SEZ
• Coimbatore SEZ – TIDEL Park – IV
• Hosur SEZ
• Perambalur SEZ
• Auto city SEZ
• India-Singapore SEZ
• IT and ITES SEZ – TIDEL-II
• IT and ITES SEZ – TIDEL-III
• Bio – Pharmaceuticals SEZ

The corporation offers a range of services including land acquisition, infrastructure development, and market linkage.

Conclusion

Tamilnadu Industrial Development Corporation (TIDC) is a government-owned industrial development corporation headquartered in Chennai, India. Established in 1965, TIDC is one of the oldest and most experienced industrial development corporations in South Asia. Over the years, it has developed several industries including textiles, chemicals and engineering. In addition to its core business activities, TIDC also engages in investments and collaborations with other private sector entities. With an extensive network across the country, TIDC provides a unique platform for investment and growth opportunities for the Indian industry.