Tamil Nadu Chief Minister M.K. Stalin on Saturday inaugurated the national executive meeting of the Federation of Indian Chambers of Commerce and Industry (FICCI) and also released a FICCI – Deloitte Knowledge Paper on ‘Accelerating Tamil Nadu’s Progress to becoming a One Trillion Dollar Economy by 2030-31’.
Tamil Nadu is the second-largest State economy after Maharashtra and is the third-largest goods exporter in India (by value) after Gujarat and Maharashtra, the report said. Assuming Tamil Nadu can sustain its current average of 10% growth, it is expected to reach a USD 1 trillion economy benchmark by FY2034. However, to achieve this milestone by FY2031, the State will need to grow at an average of 16.5% anually, it said.
Achieving this growth rate will require the introduction of pathbreaking policies and economic planning to attract investments, enhance production, and expand exports, the report said. As per the paper, Tamil Nadu will need to climb up the value chain across all three sectors of the economy (primary, secondary, and tertiary) to increase value addition and propel its economy towards the set goal.
