Madras Chamber estimates 14% GSDP growth for Tamil Nadu in FY23 – Knn India

Chennai News

Madras Chamber estimates 14% GSDP growth for Tamil Nadu in FY23

Chennai, Sept 19 (KNN) Gross State Domestic Product (GSDP) of Tamil Nadu is expected to grow by 14 per cent in FY23, said Madras Chamber of Commerce &Industry (MCCI).

According to the industry body despite of the setback due to the pandemic, Tamil Nadu was able to recover faster that many other States due to its resilient and robust public health system and concerted efforts, said a press release.


Given its strong economic and industrial base, the State has embarked on a mission to achieve a GSDP of USD 1 trillion and exports of USD 300 billion by 2030.

Government of Tamil Nadu has attracted over Rs 50,000 crore investment proposals this year.

T. R. Kesavan, President, MCCI said “The State Government has undertaken various initiatives such as allotment of Rs 100 crore to improve the infrastructure of export companies, setting up of knowledge city and releasing export promotion strategy to bring Tamil Nadu a leader among Indian states in export. Focus is on sectors like information technology, data centres, textiles, electric vehicle manufacturing, tapping renewable energy, footwear industries, as part of achieving the vision put forth by the Chief Minister M.K. Stalin.”

MCCI’s focus areas for the future would include Export Promotion, Industry 4.0, EV, Fintech, Climate Change and Sustainability, Education and Skilling, Arbitration and encouraging Startups.

The Chamber has 12 expert committees and 5 working committees who act as “Think Tanks” and share their knowledge and expertise for the various initiatives of the Chamber to enhance the industry development.

MCCI is also working on bringing out a Ready Reckoner or a handbook for regulatory compliances tilted “Doing Business in Tamil Nadu” by working closely with the government to encourage new investments and maintain a business-friendly climate.  (KNN Bureau)