Tamil Nadu Aims for USD 1 Trillion Economy by 2030

Chennai, Sep 21 (KNN) Tamil Nadu is setting its sights on becoming a USD 1 trillion economy by 2030, with a strong focus on supporting Micro, Small, and Medium Enterprises (MSMEs).

M. Ponnuswami, Co-Chairman of the CII National MSME Council and Chairman & Managing Director of Pon Pure Chemical India Pvt Ltd, emphasized the state's commitment to nurturing MSMEs at the MSME CEO Summit. The summit, themed ‘MSMEs to Mittelstand’, was organized by the Confederation of Indian Industry (CII).

“The Tamil Nadu government has significantly ramped up financial support for MSMEs, increasing the budget to Rs 1,500 crore—a five-fold increase compared to previous years," Ponnuswami stated. 

He highlighted that this enhanced support is not just financial, but structural as well, with the implementation of the Business Facilitation Act and the establishment of a single-window approval system. 

“These initiatives help MSMEs navigate regulatory challenges with ease, enabling faster growth and innovation,” he added.

Ponnuswami also praised large corporations for their vendor development programmes, which encourage MSMEs to diversify their customer base. This, he noted, boosts resilience and competitiveness, enabling smaller enterprises to scale and compete in a global market.

Additionally, the summit highlighted the Tamil Nadu government’s digital transformation efforts under the SimpleGov programme. PWC Davidar, former Additional Chief Secretary of Tamil Nadu and an advisor to TNeGA Digital and Simplified Governance, underscored how the initiative goes beyond merely digitising government services. 

“By streamlining processes, simplifying licences, and making services more accessible, we aim to create a more efficient and user-friendly government," he said.

Davidar further explained the three-stage framework adopted under SimpleGov—identity verification, eligibility assessment, and service issuance. 

The introduction of self-certification and third-party verification has reduced bureaucratic delays, making processes faster and more transparent.

As an example, Davidar cited the fire certificate process, which once required multiple approvals but has now been simplified to prioritize safety while reducing wait times.

“A committee headed by the Chief Secretary is reviewing these changes to ensure more efficient and citizen-friendly governance,” he concluded.

With these concerted efforts, Tamil Nadu is positioning itself as a leading hub for MSMEs, contributing to the state’s ambitious economic goals for 2030.

(KNN Bureau)