NE BUSINESS BUREAU
CHENNAI, APR 29
Tamil Nadu Chief Minister M K Stalin on Saturday released ‘FICCI-Deloitte Knowledge Paper on Accelerating Tamil Nadu’s Progress to Becoming One-Trillion Dollar Economy by 2030-31’.
It was a privilege to have the presence of Thiru @mkstalin, Hon’ble CM, at the #FICCINECM in Chennai; he released a @ficci_india report on accelerating Tamil Nadu’s journey to becoming a one trillion dollar economy. I highlighted Tamil Nadu’s immense potential and the significant… pic.twitter.com/LMuQejinQY
— Subhrakant Panda (@subhrakantpanda) April 29, 2023
He was attending the FICCI National Executive Committee Meeting along with Minister for Information Technology and Digital Services T Mano Thangaraj and Minister for Micro, Small and Medium Enterprises (MSME) T M Anbarasan.
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- Tamil Nadu needs strategic interventions in 3 focus areas to attain #1 trillion economy by 2030, says FICCI report
Thiru @MKStalin, Hon'ble Chief Minister of Tamil Nadu along with Thiru @Manothangaraj, Hon'ble Minister for Information Technology and Digital Services and Thiru @thamoanbarasan, Hon'ble Minister for Micro, Small and Medium Enterprises graces the #FICCINECM in Chennai. pic.twitter.com/2X36616S2Q
— FICCI (@ficci_india) April 29, 2023
The FICCI-Deloitte Knowledge Paper, released on the occasion identifies three strategic focus areas where Tamil Nadu can leverage its current strengths and competitive advantages to effectively grow its economy. While this is not exhaustive, these key areas are likely to have the greatest impact in boosting the economy towards the one trillion mark, the report stated while identifying the areas as:
Made in TN
On Made in TN, the report said that Tamil Nadu’s manufacturing strngth is well established. However, there remains considerable scope for the State to move up the value chain in manufacturing. This is specifically true for sectors such as Electric Vehicle (EV), agri-allied food processing, technical textiles, chemicals, non-metallic minerals, and electronic and semiconductor industries, where it can considerably enhance its value addition.
Brand TN
Under Brand TN, the focus should be to integrate the State as an integral part of the global economy, trade and culture. This includes aspects from exports to tourism. The strategic location of Tamil Nadu along the eastern coast of India, which is in close proximity to global trading hubs like Singapore. The availability of technical talent puts Tamil Nadu in a fair position to be India’s export and global trade hub. Tamil Nadu could be a key transhipment hub, and a capital for IT-enabled services exports.
Led by TN
On Led by TN, the State should aspire to lead India in emerging technologies and innovation. This would enable the State to attract investments from growing sectors and provide a head-start over other economies, the report said.
Structured strategic interventions in the focus areas will drive the State economy to achieve the $1 trillion mark. These interventions will require constant monitoring, evaluation, and fine tuning,
Addressing the meeting, T Mano Thangaraj, Minister for Information Technology and Digital Services, Govt of Tamil Nadu, spoke on the developments in the area of information and technology in the state, with policies and programs aimed at making of the brand Tamil Nadu.
The Minister said that Tamil Nadu is pioneer in areas relating to education, technology, infrastructure and the state government is making all efforts to meet the challenges at the global level. The IT department is focusing on research and development with the creation of well-equipped labs in the state. He further added that the Government of Tamil Nadu would be happy to collaborate with FICCI in various programs of the state.
Subhrakant Panda, President, FICCI said that it is remarkable that Tamil Nadu has 15 per cent of PhDs and 11 per cent of postgraduates in the country. The state can truly become an innovation and R&D hub. There is also a lot of scope in chemicals and specialty chemicals in addition to traditional strengths like auto and textiles, he added while assuring the Chief Minister Mr Stalin of all support to accelerate the State’s journey to becoming a one trillion-dollar economy.
Dr Sangita Reddy, Past President, FICCI and Chair of G20 Empower stressed on ways to make women get their due recognition in all spheres of development. She added that the G20 Empower framework would make gender-based reporting on women for their best practices and their global showcasing in all possible ways.
Dr Anish Shah, Senior Vice President, FICCI, said that Tamil Nadu with its talented pool could emerge as the best proposition towards making the state realise the vision of becoming a one-trillion-dollar economy with all types of developments across multiple industries. He added that FICCI would work with the State government in achieving the goals.
Harsha Vardhan Agarwal, Vice President, FICCI, stressed for focusing on real estate, IT, infrastructure and other key areas for the development of the state.
G S K Velu, Chairman, FICCI Tamil Nadu State Council, spoke on the achievements of Tamil Nadu in various fields and on the state becoming an investment destination by all reckoning.
Shailesh K Pathak, Secretary General, FICCI, said that Tamil Nadu has all the resources and talent pool to achieve the progress in all spheres and was confident that the state would make further contributions in India’s growth in the days ahead. He further added that the private sector can help the state to leverage digital growth and e-commerce.
