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Business

New TN export policy targets $100 bn exports by 2030

IANS | September 22, 2021 04:57 PM

CHENNAI:Targeting an export revenue of $100 billion by 2030, Tamil Nadu Chief Minister M.K. Stalin released the state Export Promotion Policy here on Wednesday.

Speaking at the Tamil Nadu Exports Conclave, Stalin said the state should regain the glory of international trade it enjoyed in ancient times.

Stalin said products made in Tamil Nadu should go all over the world and global manufacturers should come to the state to set up their production base.

Aiming an export revenue of $100 billion by 2030, the new export policy states that a two-pronged approach - export promotion and export diversification - will be followed.

As per the policy, Tamil Nadu would develop two Economic Employment Enclaves in Manaellore and Thoothukudi to ensure balanced growth of exports across the State.

According to the policy, the state has identified 10 export hubs and shall strengthen export related common infrastructure projects in these hubs by reimbursing 25 per cent of the project cost, subject to a ceiling of Rs 10 crore per hub.

Schemes have been formulated to provide special package incentives in order to encourage exporters to produce value-added products.

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