Unveiling the states Export Promotion strategy on Wednesday this week, chief minister M K Stalin had set out a target for the state to achieve $100 billion in exports by 2030. This requires the states exports to jump four-fold in just over eight years from the present $26 billion and hence the need to identify champion sectors for special focus as part of the strategy.
Nadu boasts of a diversified export basket in various sectors including automobile and components, machinery and instruments, electronic hardware, Software, readymade garments and accessories, yarns, fabrics and leather products. Manufactured goods account for a significant share of the states economic Growth and exports and hence it has traditionally focused on exportoriented manufacturing to foster high-value production.
According to the export policy, the value of merchandise from Tamil Nadu stood at Rs 11.55 lakh crore ($168.5 billion) between 2015-16 and 2020-21. In FY2020-21, Tamil Nadu accounted for 9% of the national exports.