In a visionary move, the Tamil Nadu government, led by Chief Minister MK Stalin, has unveiled an ambitious roadmap during the two-day Global Investors Meet in Chennai to transform the state into a $1 trillion economy by 2030.
The strategy, outlined in seven key principles, focuses on investments, human capital, innovation, market efficiency, governance, infrastructure, and holistic inclusive growth. The state envisions attracting $3.8-4.3 trillion in investments, both public and private, to position itself as a preferred destination for foreign direct investment (FDI) and spur local investments for expansion.
Key highlights of the vision include plans to add 60 lakh women to the workforce, upskilling and reskilling individuals, fostering industry-academia partnerships, and creating an industry-friendly climate with streamlined access to land, labor, and capital. The state aims to excel in the ‘Ease of Doing Business’ index by simplifying regulations and processes.
Additionally, the vision document emphasizes transparent governance, robust infrastructure development, and ensuring inclusive growth across all districts and regions. The startup ecosystem is set to play a pivotal role, with Tamil Nadu aspiring to be the country’s premier startup hub through its ‘Startup Policy 2023.’
In specific sectors, the state plans to lead in Software as a Service (SaaS) within the IT sector, become a prominent player in the automotive and Electric Vehicles (EV) sector, and encourage investments in cutting-edge semiconductor manufacturing facilities.
The government aims to develop IT/GCC corridors across ten cities, including Greater Chennai, Coimbatore, Madurai, Tiruppur, Tirunelveli, Erode, Trichy, Vellore, Salem, and Hosur. The policy also covers diverse sectors such as agriculture, machinery, textiles, tourism, energy, education, healthcare, and research & development.
