Tamil Nadu targets $ 1 trillion economy

Tamil Nadu targets $ 1 trillion economy

Tamil Nadu (TN) has an estimated export potential of $22 billion and there is need for sector-specific export-oriented push to accelerate overall export, according to the Tamil Nadu Export Promotion Strategy 2021.

Chennai,
Tamil Nadu

Tamil
Nadu (TN) Chief Minister MK Stalin has unveiled a five-year strategy as the
state targets a $1 trillion economy by quadrupling its exports in nine years.
According to the Tamil Nadu Export Promotion Strategy 2021, the state has an
estimated export potential of $22 billion and there is need for sector-specific
export-oriented push to accelerate overall export.

Drawing
a comparison to ‘Made in India’ products that are available across the globe,
the State should work towards ensuring ‘Made in Tamil Nadu’ products, too, said
Stalin, unveiling the strategy at the Tamil Nadu Exports Conclave, held as a
part of events commemorating the 75th anniversary of Indian Independence.

The
investments have been made in textiles, chemicals, IT/ITES, steel, leather
apparels, and general manufacturing sectors, at various locations in Chennai,
Kancheepuram, Tirupattur, Krishnagiri, Madurai, Salem, Tiruchy, Thanjavur,
Thoothukudi, Dindigul, and Tirunelveli districts, ‘ensuring a balanced growth
across the State’.

Stating
that TN will adopt a two-pronged approach — export promotion and export
diversification — to achieve its aim of a $1 trillion economy by 2030, the CM
said TN stood at number three in India with 8.97 % share in national exports.

He
also said that, the State is setting up an Export Promotion Council under the
Chief Secretary to boost exports, while also urging the industry to tap new
avenues for exports, including electric vehicles, batteries, renewable energy,
aerospace, food processing, and electronics, for the same.

The
CM also highlighted that the State has identified 10 export hubs where
infrastructure projects will be strengthened by reimbursing 25% of the project
cost. The idea is to decentralise export potential to develop districts as
export hubs and generate jobs. Besides, the MSME Trade and Investment Bureau
(M-TIPB) has also signed a pact with Flipkart/ Walmart and the
Indo German Chamber of Commerce (IGCC).

Source: The New Indian Express

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Source: Google Images

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