Thu Mar 13 18:07:12 UTC 2025: **Tamil Nadu Needs Industrial Boost to Reach $1 Trillion Economy Goal: Economic Survey**
CHENNAI, March 14, 2025 – Tamil Nadu’s Economic Survey 2024-25, released late Wednesday, highlights the need for increased industrialization, particularly in the state’s southern districts, to achieve its ambitious goal of a $1 trillion economy by 2030.
The survey emphasizes the creation of large-scale land banks to attract investors and encourages innovative business models like plug-and-play facilities and the establishment of industrial townships. It also calls for proactive measures to address the impact of the electric vehicle transition on the automotive sector and leverage the opportunities presented by renewable energy for sustainable growth.
The report recommends improving sector-specific policies to revitalize slower-growing industries and further enhance the ease of doing business. While acknowledging the success of government skilling initiatives, the survey urges their expansion to boost workforce participation and productivity.
A key strategy for reaching the $1 trillion target involves increasing exports to $100 billion by 2030. Tamil Nadu’s merchandise exports have already shown significant growth, rising from $30.01 billion in 2019-20 to an estimated $51.89 billion in 2024-25, placing the state third nationally behind Gujarat and Maharashtra.
The state’s industrial sector has also demonstrated strong growth, averaging 8.78% over the past three years, exceeding the national average. With 39,666 factories, Tamil Nadu boasts the highest number in India. The survey concludes by stressing the importance of strategically addressing these factors to propel the state’s economic progress.
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