Aim is to make TN $1 trillion economy by 2030, says Minister in Delhi

Industries Minister Thangam Thennarasu speakng at the summit on ‘Global Chemical and Petrochemical Manufacturing Hubs in India’ held in New Delhi.

Chennai: Industries Minister Thangam Thennarasu has the aspiration of the Tamilnadu government is to make the state a one trillion USD economy by 2030.

In his address at the summit on ‘Global Chemical and Petrochemical Manufacturing Hubs in India’ held in New Delhi, he said the vision of the Tamilnadu and the Union governments are aligned together to capitalise the manufacturing sector’s growth potential and domestic demand available in the country, at large.

‘The aspiration of our government is to make Tamilnadu a one trillion USD economy by 2030’, he said.

He said chemicals and petrochemicals are the feedstock for every industry and this sector plays a vital role in the states industrialisation, making Tamilnadu the manufacturing and economic power house.

Stating that Tamilnadu is the third largest contributor to the country’s chemical output housing more than 2500 chemical industries with strong chemical industrial ecosystem, the Minister said recognising the importance
of this sector, the state government has categorized specialty chemicals and petrochemicals as sunrise sectors to extend financial support through additional incentives and has leveraged investments for setting up of  three large petrochemical projects in Thoothukudi, Nagapattinam and in Cuddalore.

‘This will ensure supply of all required feedstock to strengthen and position the state as the petrochemical investment destination’, he said, adding, these projects also create an immense potential for downstream
investment opportunities from large to smaller companies to be a part of the growth story.

Thennarasu said to further strengthening the ecosystem the government has established the Tamilnadu Polymer Park spread across 306 acres near Chennai to cater to the needs of plastic manufacturing and logistics.

The government also proposed to establish a pharmaceutical park and a textile park in the state, besides strengthening the cross-country and City Gas Distribution pipeline to ensure feedstock availability.

Increasing the availability of industrial water by establishing TTRO and desalination plants in various districts, setting up of new industrial zones and industrial land banks across the state and establishing sector specific clusters for electronics, foods, furniture, chemicals and petrochemicals, etc are among the other initiatives of the government, he added.

Noting that the government was delivering uninterrupted power supply to most of the industrial establishments, Thennarasu said the government has taken initiatives to advocate clean energy to increase power generation
through renewable energy sources such as solar and windmills.

‘Recently we have launched the TN Single Window portal 2.0 which facilitates the investors with over 100+ services. This system ensures that all necessary clearances are accorded within the timelines’, he said.

The Biz Buddy system has also been advocated. This is a platform for industries to submit a help call on issues or delays by any government department, he said.

 

NT Bureau