CHENNAI: Tamil Nadu ranks top in the export of electronic goods in the first half of this financial year (April 2023 to October 2023) and Industries Minister TRB Rajaa shared hope that the state could hit a staggering $8 billion in exports this year, a significant leap from the previous year’s $5.37 billion.
As per the National Import-Export Record for Yearly Analysis of Trade, the state has a lion’s share of $4.78 billion, which is 30.86% of India’s total exports ($15.48 billion), in the first six months. Uttar Pradesh is ranked second clocking $2.57 billion, which is 16.67% of the total.
Rajaa said the data shows TN’s success story. “Marking 31% of the national exports and nearly double of the second-runner state, TN could easily hit $8 billion in exports this year,” he said. He attributed the success to the state’s strategic policies, skilled workforce, robust infrastructure, and the Dravidian model of governance under the leadership of CM MK Stalin. The state is all set to host the Global Investors Meet on January 7 and 8.
According to TN New Electronics and Hardware Manufacturing policy, the state has targeted to increase the industry output to $100 billion by 2025. TN’s electronic exports nearly tripled in a year (from $1.86 billion to to $5.37 billion). It was ranked fourth in 2022, after UP, Karnataka, and Maharashtra. Companies like Tata Electronics and Pegatron starting production has helped TN to bag the top spot.
The state is also ranked top in the Niti Aayog’s Export Preparedness Index 2022 with an overall score of 80.89, piping Maharashtra and Karnataka.