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1 trillion USD economy by 2030
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- Economists Raghuram Rajan and Arvind Subramanian, members of the Tamil Nadu Chief Minister’s Economic Advisory Council, speak on ‘The Big Bets for Tamil Nadu’s Trillion Dollar Economy’ at Global Investors Meet 2024.
- To achieve the goal, the State has to grow 18% for the next seven to eight years.
- No country at any point of time has done 18% ever.
- China has grown for 10-11% over 40 years.
- China’s share of global exports in labour intensive sectors is 40%, while India’s share is 35%.
- If China drops to 35% and India can take its share to 12%.
- Low-cost manufacturing in the state would create more employment opportunities for the unskilled workforce.
- While Tamil Nadu’s debt level is high, it is not a matter of concern when compared to other States.
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