BS round table: Reimagining Tamil Nadu's road to a knowledge economy

On its ambitious road to becoming a $1 trillion economy by 2030-31, Tamil Nadu is fast expanding as a global manufacturing powerhouse in electronics, automobiles, food processing, textiles, footwear, and leather, among others. Tamil Nadu is also becoming a hub for sectors like global capability centres (GCCs), with global majors setting up their units in the state, contributing to its goal of becoming a knowledge economy.

  To reflect on the state's future, the Business Standard Tamil Nadu Round Table 2025, scheduled for Wedn­esday, will focus on the theme “Reim­agining Tamil Nadu: Path to Knowledge Econ­omy”. The event is being organised in Chennai, in collaboration with the State Planning Commission, and Guidance Tamil Nadu. 

This comes at a time when the state has seen investments of over $10 trillion in the past four years. State Industries Minister T R B Rajaa will deliver the main address at the summit. A key area of discussion will be the role of skilling in achieving the $1 trillion target.

 

“Skilling is at the heart of Tamil Nadu's ambition to become a $1 trillion economy. As India's most industrialised state, with the most-skilled and work-ready workforce, we already produce 150,000 engineering graduates annually,” Rajaa said recently. The event will be webcast on https://www.business-standard.com/.

  In the state's growth strategy, GCCs are expected to play a major role. GCCs are offshore units of global multinational companies (MNCs), and already, majors like Ford, AstraZeneca, Walmart, Standard Chartered, World Bank, and Citi have a presence in Chennai. The first session at the summit will focus on “Shaping Tamil Nadu’s Future: Role of GCCs & Beyond”.

  Another area of focus will be the role of the manufacturing sector in Tamil Nadu’s growth road map, as the sector contributes 33 per cent of the state’s gross domestic product. The second session will delve into the topic "Redefining Manufacturing: The Power of Policy”. It will discuss pertinent issues such as advanced manufacturing and the role of artificial intelligence (AI) and machine learning (ML) in the sector's growth ahead.

  Tamil Nadu surpassed Karnataka and Uttar Pradesh to become the largest exporter of electronic goods in the financial year 2023-24 (FY24), up 78 per cent from FY23. This is expected to increase further this year.