Tamil Nadu had two main focuses at the World Economic Forum’s (WEF) annual meeting in Davos: making the dream of a US $1 trillion economy by 2030, and attracting green energy companies to the state.
In his presentations, on May 23, the Tamil Nadu Industries Minister, Thangam Thennarasu, an engineer by training, described the state as an “economic powerhouse” which was among the “50 largest economies of the world.” Outlining the vision of the state, he said: “We aim to transform the state into a US $1 trillion economy by 2030.The manufacturing sector will play a crucial role in helping us achieve our target.” The goal in this sector was to attract an investment of US $250 billion by 2030.“We have set out twin goals of attracting high value-added manufacturing companies to the State and equipping the state’s workforce with the skillsets needed to be industry ready,” he said.
Thennarasu made it clear that the vision had a base: “We have a diversified manufacturing base and leaders in sectors such as autos and auto components, electronics, machinery, textiles and leather, to name a few.As many as 130 of the global Fortune 500 companies across different sectors have a presence in our state.” He revealed that the state and WEF were working together to set up an advanced manufacturing hub, and undertaking Industry 4.0 maturity survey (to ascertain the preparedness of the manufacturing sector in Tamil Nadu).The state was in discussions with more than 50 firms on advanced manufacturing.
Noting that the US $250 billion growth in the manufacturing sector needed a clear pathway, the Minister that the state would seek out higher value add segments of the industry, establish research and development centres, and centres of excellence in collaboration with the industry, and support the sector with policy interventions that incentivize sustainable innovation and drive new technologies in micro, small and medium enterprises.
On the renewable energy front, Tamil Nadu’s installed renewable energy capacity is the ninth largest in the world with 5.3 GW in solar energy and 8.6 GW in wind energy.
“Half of our installed energy capacity, 17.2 GW out of 33.8 GW, is from wind, solar, hydro, biomass and cogeneration,” he said, and added that state aimed to be the leader in renewable power generation.In solar energy alone, the state planned to add 20 GW in the next decade, he added.
Thennarasu told Frontline that he made it a point to highlight the state interventions during Covid which helped the industries run uninterrupted.This was to inform the industry that regardless of what adverse circumstances were thrown up, the state would help the industry in logistical requirements to ensure smooth operations.
columns Freebie phobia: The BJP’s concerted attack on redistributive transfers Although the BJP is against ‘freebies’ in principle, in practice it has been forced to use a version of concessions and transfers to counter the o Slideshow Living on the edge They are river people, whose lives ebb and flow with the waters of the Brahmaputra in a timeless rhythm.
But now, hydroelectric projects and homogenis Most Popular Rajiv Kapoor, youngest son of Raj Kapoor, passes away Climate Change Batteries versus e-fuels: Which is better? Europe Is inequality widening in Poland? Odisha launches Olympic Values Education Programme in 90 schools Siddaramaiah Challenges BJP by Pleasing Lingayats and Veerashaivas S.Rajendran Read More TRENDING THIS WEEK Jammu & Kashmir: The hidden agenda behind the delimitation exercise Three phases of Indian renaissance Aakar Patel: ‘Modi shrank India’s workforce by a fifth’ ‘Savarkar did very little for India’s independence’ Rajiv Kapoor, youngest son of Raj Kapoor, passes away A history of resistance: Tamil Nadu’s struggle against Hindi imposition LATEST NEWS Davos 2022: Tamil Nadu focuses on green energy, US $1 trillion economy goal Senegal: 11 babies killed in hospital fire Pakistan deploys army amid pro-Imran Khan march UK: Volkswagen pays millions in ‘Dieselgate’ settlement Texas shooting: President Biden says Second Amendment on guns ‘not absolute’ Turkey threatens to stall Sweden, Finland in NATO talks TRENDING IN COVER STORY A history of resistance: Tamil Nadu’s struggle against Hindi imposition Temple desecration in pre-modern India Malhotra recommendations Demolition squad: Hindutva mobs go on a rampage Fallacy of the Hindutva project How he made his pile TRENDING ON OUR GROUP SITES THE HINDU: USA judiciary (system of justice) Russia Russia BUSINESSLINE: weather rice (commodity) Xiaomi China stocks and shares FRONTLINE Home Subscribe Now Cover Story Farmers’ Struggle The Nation Columns Covid-19 Arts & Culture World Affairs Other Editor’s Pick Special issues Current Issue Archives Follow us on THIS SITE About us Terms of Use Privacy Policy Rss feeds Contacts Subscription Sitemap Follow us on GROUP SITES The Hindu இந்து தமிழ் திசை Business Line BL on Campus Sportstar Frontline The Hindu Centre RoofandFloor STEP Young World Club Publications eBooks Images Comments to: [email protected].
Copyright © 2022, THG PUBLISHING PVT LTD..