Tamil Nadu Wants To Be A $1 Trillion Economy, Govt Hires BCG For Developing Road Map

Tamil Nadu Wants To Be A $1 Trillion Economy, Govt Hires BCG For Developing Road Map

The authorities of Tamil Nadu has selected Boston Consulting Group to create a method and plan for accomplishing a $1 trillion financial system withinside the country.

With a robust production base and huge offerings sector, Tamil Nadu is the second one biggest State financial system in India and ranks 0.33 in GDP in line with capita. It boasts the very best stage of urbanisation and industrialisation withinside the country.

Its export enterprise is likewise significant, because it bills for over 9% of India`s general exports, making it the 0.33 biggest exporting State.

The Chief Minister of Tamil Nadu, M.K. Stalin, desires to make the country a $1-trillion financial system with the aid of using 2030 to make contributions drastically to India's purpose of attaining a $5-trillion financial system. This could require improving the present day increase rate, an boom in investment, and higher infrastructure.

The Tamil Nadu Infrastructure Development Board, liable for infrastructure improvement, decided on Boston Consulting Group after a international bid to broaden a complete plan and street map, in step with sources.

The task targets to create a imaginative and prescient and method for monetary improvement and discover key elements important to acquire it.

The precedence sectors and sub-sectors, together with their GDP and activity objectives till 2030 might be determined. The project is anticipated to be finished inside six months.

"I even have set a goal for Tamil Nadu to grow to be a 1 trillion-greenback financial system with the aid of using 2030. Today, we're almost a 300-billion-greenback financial system. We will want to sign up double-digit increase each 12 months till 2030 thru a multi-pronged method if we're to develop three-fold", the Chief Minister had stated in an interview closing November.

He referred to  commercial corridors as key to his plan.

"The Chennai Bangalore Industrial Corridor supported with the aid of using JICA will cater to commercial improvement among Chennai and Hosur. The Chennai Kanyakumari Industrial Corridor (CKIC) supported with the aid of using the Asian Development Bank will sell port-primarily based totally monetary improvement."

He additionally spoke approximately the semiconductor production.

"Tamil Nadu ranks 2nd in India for computer, electronics, and optical merchandise production accounting for 18 in line with cent of country wide production; it ranks fourth in phrases of digital exports, which had been really well worth 2.2 billion greenbacks in 2021-22. Tamil Nadu sees semiconductors as a 1 trillion-greenback marketplace opportunity. The semiconductor cost chain calls for awesome infrastructure."


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