CM’s goal to make TN 1 trillion dollar economy by 2030

Chennai, Jan 9 (FN Agency) Tamil Nadu Chief Minister M.K.Stalin has set the goal of a 1 trillion dollar economy by the year 2030 with the objective of bringing living standards of people on par with developed countries and making Tamil Nadu the best State across sectors, Governor R.N.Ravi informed the State Assembly today. Delivering his customary New Year address to the House, he said as a result of several investment conclaves and global outreach activities undertaken by this Government since July 2021, 207 MoUs have been signed with a cumulative investment commitment of Rs.2,23,210 crore and employment opportunities to 3,44,150 persons. He said it was notable that Tamil Nadu has attracted Foreign Direct Investment worth Rs.28,232 crore during this period. Pointing out that this Government has released several sectoral policies such as the Tamil Nadu Life Sciences Promotion Policy, Tamil Nadu Research and Development Policy, Tamil Nadu Footwear and Leather Policy and Tamil Nadu Aerospace and Defence Industrial Policy in 2022, the Governor said further, policies to promote Ethanol blending, Green Hydrogen and E-vehicles will be released shortly. He said for creating an enabling ecosystem for IT companies to set up in towns other than Chennai, mini TIDEL parks are being established in 7 locations.

Further, the State’s third TIDEL park will be constructed in Madurai at an estimated cost of Rs.600 crore. He also said the State Government has begun preparatory works for setting up a greenfield international airport at Parandur in Kancheepuram District. This will help cater to the growing demand of air traffic, improve livelihood of the locals and further economic development of the State. The MSME Sector, which had been severely affected during Covid has seen a remarkable recovery owing to the multipronged interventions of the Government. There has been an increase in bank credit to MSMEs by 20 per cent and in the number of loan accounts by over 19 per cent in the first half of this financial year. Ravi said after this Government assumed office, over 16,000 self-employment projects worth Rs.2,344 crore have been provided assistance. In addition, the Government has opened 5 new industrial estates for MSMEs in the current year. The Tamil Nadu Startup and Innovation Mission (StartupTN) has created a conducive ecosystem for startups in the State. The number of registered startups in the State has doubled since May 2021, he added. Further, as a first in the country, a special fund of Rs.30 crore has been sanctioned to support SC/ST startups and this has ensured inclusivity in the State’s startup ecosystem, he said.