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Tamil Nadu Finance Minister N. Marie Wilson on Wednesday (August 5, 2026) said since assuming office, the Tamilaga Vettri Kazhagam (TVK)-led State government has signed seven memoranda of understanding (MoUs) worth ₹35,062 crore, with the potential to create 14,790 direct and indirect employment opportunities.Presenting the Revised Budget for 2026-27 in the Assembly, Mr. Wilson said India’s first dedicated AI and innovation city, named ‘Arivagam’, will be established for artificial intelligence and deep-tech development, with facilities including an AI university, an international skill development centre, a semiconductor hardware testing lab, multi-domain innovation incubators, and modern residential infrastructure. A feasibility study for the project will be undertaken at an estimated cost of ₹5 crore.Tamil Nadu Budget 2026 LIVE updates: Finance Minister Marie Wilson announces one-sovereign gold coin for brides in TVK-led govt.’s maiden BudgetTo encourage large-scale investments and accelerate industrial growth, the State government will strive to establish more Multi Modal Logistics Parks (MMLPs) and Dry Ports at strategic locations, establish petrochemical and ancillary industries, and explore the possibility of setting up new ports in Tamil Nadu.Space tech boostAccording to the Minister, Thoothukudi and Tirunelveli will be declared a ‘Space Industrial Investment Zone’, anchored by the strategic significance of the spaceport at Kulasekarapattinam. To provide infrastructure and technological support to private enterprises, startups, and research organisations, the State government, in collaboration with IN-SPACe, will establish an advanced ‘Space Vehicle Common Technical Facility’.A new Tamil Nadu Industrial Policy will be released to strengthen the State’s industrial and economic growth. The policy will foster innovation and technology-driven growth, support emerging industry sectors, drive sustainable development, and export promotion. The State government will also create the Tamil Nadu Industrial Capability Directory, a comprehensive digital platform listing the State’s manufacturing and supply capabilities, Mr. Wilson said.To enhance Tamil Nadu’s competitiveness, the State will introduce an AI-powered investment service system called ‘Guidance 3.0’, making all requisite information, clearances, and services available on a single platform for investors. As part of this initiative, the ‘Tamil Nadu Single Window Portal 3.0’ will be upgraded to enable all statutory approvals, clearances, and no-objection certificates required for establishing industries and investment projects to be obtained through a unified interface, he said.Besides, a ‘Non-Resident Tamil Investment Facilitation Desk’ will be established within Guidance to facilitate and promote investment by the global Tamil diaspora in the State.New industrial parksTo ensure balanced and equitable industrial development across all regions of Tamil Nadu, SIPCOT will establish new industrial parks in industrially backward districts based on district-specific industrial development plans and sectoral strengths. These parks will be developed with state-of-the-art infrastructure at an estimated cost of approximately ₹3,200 crore over the next five years, the Finance Minister said.The Industries, Investment Promotion and Commerce Department has been allocated ₹4,414 crore in the Budget. Published - August 05, 2026 01:11 pm IST
