Codissia president R Ramamurthy said the ‘Codissia Defence Innovation and Incubation Centre’, launched by the defence minister Nirmala Sitharaman in Trichy on January 20, would likely be set up at the forthcoming industrial park at Kallapalayam in Coimbatore.
The Union minister officially launched the centre along with a series of projects which are part of the Tamil Nadu Defence Corridor.
In January last year, Sitharaman had announced a fund of Rs 20 crore to set up the centre under Codissia in the city.
Ramamurthy said this was the first defence innovation hub to come up in the country. He said the centre would likely come up at the industrial park at Kallapalayam. Codissia would own the land and the building, while a Section 8 Company and a special purpose vehicle (SPV) would be formed under the title ‘Codissia Defence Innovation and Incubation Centre’, Ramamurthy said. This would be a major boost to MSMEs as small industries could otherwise not afford to carry out innovation or R&D activities, Ramamurthy said. The centre would cater not only for MSMEs from the region, but also to those from the southern defence industrial corridor and, if need be, to those from north too, he added.