Madras Chamber to focus on TN's Industry 4.0, Fintech promotion: Official

Over century old industry body Madras Chamber of Commerce and Industry would focus on export promotion, Industry 4.0 and financial technology that would support the Tamil Nadu government's vision of reaching a GSDP of USD 1 trillion as put forth by Chief Minister M K Stalin, an official said on Saturday.

The Tamil Nadu government's ambitious 'Naan Mudhalvan Scheme' is a major step in breaking the barrier, MCCI president T R Kesavan said.

According to him, the 186-year-old Chamber would bring out a handbook on regulatory compliance titled 'Doing Business in Tamil Nadu' by working closely with the government to promote new investments.

"The State government has undertaken various initiatives such as allotment of Rs 100 crore to improve the infrastructure of export companies, setting up knowledge city and releasing export promotion strategy to bring Tamil Nadu a leader among Indian States in export," he said.

The focus is on sectors like information technology, data centre, textiles, electric vehicle manufacturing, footwear as part of achieving the vision put forth by Stalin, he said.

The gross state domestic product (GSDP) of Tamil Nadu bounced back to 14.6 per cent in FY22 and it was expected to grow by 14 per cent in FY23, he said.

The State has embarked on a mission to achieve a GSDP of USD 1 trillion and exports of USD 300 billion by 2030. Tamil Nadu has attracted over Rs 50,000 crore investment proposals this year, he said.