Besides the thrust on exports for which a state Export Promotion committee will soon be formed, TN is focusing on emerging sectors as well as core strengths. Services-sector”>services sector will be a major focus area. Everything connected withFinTech(financial technology), including a FinTech policy and a FinTech city, will receive our focus. On the IT and ITeS front, we will push it in a much bigger way in Tier 2 & Tier 3 as well as rural areas, the official said.
Emerging sectors such as aerospace and DEFENCE, e-vehicles, electronic manufacturing and petrochemicals, and traditional sectors such as textiles and leather will get a thrust. Non-leather footwear is another emerging area for the state.
MSMEs contribute about 30% of the countrys GDP, and could do the same, if not more, in the state. MSMEs can grow better only through cluster approach. We have recently announced five mega industrial clusters for MSMEs in select sectors such as aerospace & defence, pharmaceutical, petrochemical, precision manufacturing and e-vehicle manufacturing. Each cluster will be developed with an of Rs 100 crore and will surely emerge as Growth centres in a few years