Govt aim is to make Tamil Nadu a $1 trillion economy: Stalin

Tamil Nadu Chief Minister MK Stalin has set an ambitious target for the State to be a $1 trillion GDP economy by 2030. “We want Tamil Nadu to be one of the best States in South Asia. Our government’s target is to make Tamil Nadu a $1 trillion economy,” Stalin said, speaking at the Investors Conclave organised by the State industries department on Tuesday. “We want to ensure that there is a conducive business environment in the State,” he added.

The DMK government came to power at a time when the Covid-19 pandemic was at its peak, and the State’s financial position was not that good. However, the economy is picking up now, he said.

Employment opportunity

Industry Secretary N Muruganandan speaking at the function said, the Chief Minister has set a target to bring in investment of ₹23 lakh crore and create 46 lakh new jobs by 2030.

In the first major announcement on the industrial front since the DMK government came to power two months ago, a total investment commitment of ₹28,508 crore and employment opportunities for 83,482 persons from 49 projects across various sectors was announced at the Conclave. This includes 35 projects worth ₹17,141 crore, with an employment potential of 55,054 for which MoUs were signed.

Stalin also laid the foundation stone for nine industrial projects worth ₹4,250 crore to create 21,630 jobs. He also inaugurated five projects with an investment commitment of ₹7,117 crore and employment opportunities to 6,798 persons.

Stalin launched the Single Window Portal 2.0 with 100+ services spread across 24 departments for existing and new investors in a fully digitalised manner. The upgraded system, which will be monitored by the Chief Minister himself, will have features such as parallel processing of clearances, virtual meeting with departments, Artificial Intelligence-based chatbot facility and deemed approval for select clearances, says a government release.

He also felicitated five start-ups with a grant of ₹3.5 crore under Guidance-ATEA Digital Accelerator Program.

Signed MoUs

General Electric has proposed to establish a Centre of Excellence to enhance production of aircrafts and aeronautical components for industries in the aerospace and defence sector using advanced manufacturing technologies. An MoU was signed between GE and Tidco at the Conclave.

The others MoUs signed include JSW Renew Energy Two Ltd’s ₹3,000 crore investment (employment of 1,600 persons) to set up a 450 MW wind power generation at Tuticorin, Tirunelveli, Dindigul and Tiruppur; Tata Consultancy Services’ Phase III project at Sipcot Siruseri at investment of ₹900 crore (employment for 15,000 persons) and Srivaru Motors setting up a facility in Coimbatore to manufacture electric vehicles (two wheeler) in Coimbatore by investing ₹1,000 crore (employment for 4,500), the release said.

Stalin laid the foundation stones for nine projects, including AG&P Pratham’s commissioning of ‘first daughter booster’ station at an investment of ₹1,700 crore (employment for 3,400 persons). He inaugurated five projects, including the ₹5,317 crore (employment for 4,738) of Vikram Solar at Oragadam, the release said.

Read More