CHENNAI: The state government needs to attract $3 trillion to $4.3 trillion investments in both public and private sectors by 2030 to achieve the $1 trillion economy goal, according to a report. The Tamil Nadu Vision $1 trillion report, unveiled by Chief Minister M K Stalin at the Global investors Meet on Sunday, highlights seven tenets — the need to woo investments, human capital, innovation, market efficiency, governance, infrastructure, and holistic and inclusive growth.
Stressing on the need to become the go-to destination for foreign direct investment and to enable local investments, the report also states that the state needs to add 60 lakh women to the workforce. It also sets a target to skill one crore people participating in the economy, thereby giving them a transition to high value jobs.
The report calls for industry-academia partnerships to become a research and development citadel and to be a destination for start-ups. For this, all districts must emerge as growth centres. The report also stresses the need to develop infrastructure by focussing on energy, roads, airports, seaports, rail transport, water, waste management, housing, land, and urban planning. Expediting works for a second airport in Chennai and air-cargo augmentation across airports are also necessary. This shows the need to expand passenger capacity across Coimbatore, Madurai, Tiruchy, Thoothukudi, and Salem.
Exploring development of high speed rail corridors is another need. The idea is to connect Chennai to places in 150 km radius, including Vellore, Villupuram, and Gummidipoondi and reduce travel time by 50% on each of these routes.
The report emphasises a few key focus areas for increasing women (labour) participation — employment service centres, incentives to the private sector for employing women, education and skill development programmes, affordable child and elderly care facilities, short-term paid internships to enable women with career breaks to reintegrate into the workforce.