‘Seamless credit access, strong fiscal industry crucial for achieving a $10 trillion economy’
The Hindu
Pix R. Raghu covers insights from CII leaders on South India's path to a $10 trillion economy.
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R. Mukundan, vice-president, Confederation of Indian Industry (CII), and MD and CEO of Tata Chemicals, on Monday said seamless credit access and strong fiscal policies were crucial for South India to achieve its $10 trillion economy goal.
“South India is at the forefront of sustainability and future mobility. With Tamil Nadu and Karnataka generating over 22 gigawatts of wind and solar power, and Tamil Nadu leading in electric two-wheeler and auto component manufacturing, the region is well-positioned for a green industrial revolution. Strengthening EV [Electric Vehicle] infrastructure and fostering industry-policy collaborations will be key to accelerating South India’s global competitiveness in sustainable technologies,” he said at the inaugural session of CII Mystic South Global Linkages Summit in Chennai.
“With strategic investments and industrial growth, the region can drive India’s economic momentum while fostering innovation and entrepreneurship. Further, public-private partnerships are reshaping development, ensuring efficiency and investment in infrastructure, manufacturing, and renewable energy. As India targets a $30 trillion economy and Tamil Nadu aims for a $40,000 per capita income, smart industrial zones, export logistics, and social infrastructure will be vital for sustainable growth,” Mr. Mukundan said.
“South India has unique advantages across manufacturing, technology, and human perspectives, which give it a strategic edge. With the longest coastline among many global regions, South India enjoys a natural geographic advantage, positioning it as a key player in trade and economic growth,” R. Dinesh, Immediate Past President, CII, and Executive Chairman, TVS Supply Chain Solutions, said.
According to R. Nandini, chairperson, Southern Region, CII, and MD, Chandra Textiles, south India has substantial economic contributions, accounting for 31% of India’s GDP and 40% of FDI inflows. “The region is well-positioned to lead in knowledge-based industries such as education and human capital development with a skilled workforce exceeding 150 million and high literacy rates,” she said.
T.T. Ashok, chairman, CII Mystic South 2025, and MD, Taylor Rubber, presented a strategic roadmap, introducing the “Cosmic Six” key drivers — advanced manufacturing, electronics and semiconductors, emerging technologies, Sustainability, future mobility, and the tourism and creative economy — aimed at sustaining a 7%-8% growth trajectory for the next two decades.
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