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Tamil Nadu govt eyes 1 trillion dollar SGDP target by 2030
The appointment of the Economic Advisory Council comprising of key experts including Duflo and former RBI Governor Raghuram Rajan and signing of memoranda of understanding with the industries helped the state register higher growth than the national average, according to Guidance Tamil Nadu Chief Pooja Kulkarni.
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Braving the COVID-19 pandemic, key sectors in Tamil Nadu looked up in the year 2021, as the new government headed by the DMK announced its ambitious revival and growth initiatives and roped-in some of the top economists including Nobel winner Esther Duflo to advise the state in its endeavour.
The appointment of the Economic Advisory Council comprising of key experts including Duflo and former RBI Governor Raghuram Rajan and signing of memoranda of understanding with the industries helped the state register higher growth than the national average, according to Guidance Tamil Nadu Chief Pooja Kulkarni.
Often billed as a ‘favourable’ investment destination, Tamil Nadu attracted over Rs 50,000 crore investment proposals this year, even as the TN government has rolled out an ambitious $1 tn State Gross Domestic Product (SGDP) target by 2030. Services, farm and realty sectors had a good 2021.
Tamil Nadu would focus on key sectors as part of achieving the vision put forth by state government, Kulkarni said.
‘’In 2021 we have actually grown despite the pandemic. National GDP last year was 3 per cent whereas it was 5.5 per cent at state level.. we have been able to keep up the services sector, agriculture sector functioning,’’ she said.
Guidance Tamil Nadu is the only nodal agency in the state set up by the government for building the economy through single window clearances to projects set by companies which are keen to set up base in the southern state.
‘’Focus will be on sectors like information technology, data centre, textiles, electric vehicle manufacturing, tapping renewable energy, foot wear industries.. these are all the focus areas for the Chief Minister’s vision of taking the state gross domestic product to $1 trillion’’, she added.
Kulkarni added the state has been witnessing positive response from industries with several companies committing investments of Rs 54,229 crore by signing MoUs with the government during the investment conclaves conducted by the department that would see creation of several jobs in the state.
‘’We anticipate that there would be Rs 25 lakh crore investments in Tamil Nadu by 2030’’, she said, adding some of the big ticket investments committed by the industries were in the pipeline in the coming years.
‘’Some have already been signed, some are i
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