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Wednesday, April 24, 2024

TN’s ESDM exports likely to touch USD 9 Bn by this fiscal ending Mar 2024

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Chennai: Tamil Nadu Industries Minister TRB Raaja said that the State continues to consolidate its position as India’s leading exporter of electronic goods, with its value touching USD 7.37 billion – a whopping 32.52 % of India’s total export of ESDM goods of USD 22.65 billion for the period April 2023 to January 2024 and will touch USD nine billion mark by the end of this fiscal ending this month.

In a statement here, he said it is significant to note that compared to the export of electronic goods fr the previous financial year (2022-2023), which was USD 5.37 billion, Tamil Nadu has already exported electronic goods worth 7.37 billion in just 10 months of the current Financial Year: i.e., from April 2023 to January 2024.

The State’s export of electronic goods is expected to reach the USD 9 billion mark by the end of this Financial Year (2023-2024).

Visionary leadership, pro-active governance, policy-driven approach, growth-oriented administration, excellence in manufacturing and precision engineering, and capabilities in handling high-end technologies are some of the key factors for Tamil Nadu to achieve the top slot in multiple sectors, especially electronic goods manufacturing, and exports – making the State the preferred investment destination for global conglomerates, Mr Raaja said.

To tap this sector’s immense potential and move up in the value chain, the “Tamil Nadu Semiconductor and Advanced Electronics Policy 2024”, was unveiled at the Tamil Nadu Global Investors Meet held in January. The Policy aims to accelerate growth in this sector and create a skilled talent pool of 2,00,000 people by 2030.

The State has been making rapid strides in all areas of industrial growth, primarily due to its connection with stakeholders. Its strengths include the finest human resources, a robust ecosystem in all sectors, and inclusive growth.

Speaking about the achievement, Mr Rajaa said: “This achievement underscores the state’s pivotal role in the national economy. Under the visionary leadership of Chief Minister M.K. Stalin the State continues to shine as a prime destination for manufacturing and a hub for creating high-quality jobs for our youth.

“We are confident that we will keep the momentum going and set new records in our industrial journey”, he added.

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