Stalin backs launching of startups to reach US dollar 1 trillion SGDP by 2030

Chief Minister MK Stalin on Monday said that thousands of new start ups should be developed to achieve the target of making the state GDP (Gross Domestic Product) reach one trillion US dollar by 2030.

Launching the 14th annual conference of ISBACON (Indian STEPs and Business Incubators Association) in the city, Stalin said, “I have resolved to increase the state GDP to one trillion US dollar by 2030. To realise it, thousands of new startups should be launched in the state. The startups should succeed in domestic and global markets. And they should generate lakhs of jobs. This is the kind of growth we should achieve.”

“The growth should be a holistic and knowledge centric one covering every part and people of the state without affecting the ecology. Only then the full meaning of growth will be realised,” the Chief Minister added.

Pointing out that the state has received 1.8 billion US dollars through 60 firms in the last year and 30 of the top 100 educational institutions were in Tamil Nadu, the CM said the way big firms operate have changed and the dynamics of business and delivery of service to the people have changed since the pandemic.

Borrowing from historian Yuval Noah Harrari’s latest book “21 lessons for the 21st century,” Stalin said, “The question he (Harrari) raises is whether we have understood the world we have created. This is not just a philosophical or political question. It’s a question every one of us should ponder over and act.”

Advising the business incubators to customise themselves to the new world order, Stalin said that Tamil Nadu government acts as one filled with such alternate thoughts. Staying that Chennai has become a global hub of services based software industry, the CM said the youths of the state have drawn global attention through their technological innovations in edutech, fintech, mediatech and healthtech. “However, we should not be content with this achievement. I am duty bound to ask you to prepare for the next level of achievement,” he added, appealing for development of new business ventures and entrepreneurs from all sections of the society.