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Can Tamil Nadu's Export Success Inspire Other Indian States?

2024-11-02 03:55:17.827000

In a stark contrast to the overall decline in India's merchandise exports, which contracted by 3.1% year-on-year to $437.1 billion in FY 2024, Tamil Nadu has emerged as a beacon of growth. The state recorded a remarkable 7.1% increase in its exports, reaching $43.6 billion, thereby boosting its share of India's total exports from 8.3% in FY 2022 to 10% in FY 2024 [11016606].

While Gujarat's exports fell by 10% to $134.4 billion, Maharashtra's by 7.2% to $67.2 billion, Karnataka's by 4.7% to $26.6 billion, and Uttar Pradesh's by 5.1% to $20.6 billion, Tamil Nadu's performance stands out due to its strategic focus on key sectors. The state leads in several industries, including telecom instruments (44%), cotton garments (40%), garments of other textiles (38%), motor vehicles (37%), auto components (32%), electronic machinery (32%), and leather footwear (48%) [11016606].

A significant factor contributing to Tamil Nadu's export success is its robust infrastructure, highlighted by the presence of 51 operational Special Economic Zones (SEZs), the highest in India. This infrastructure supports a diverse manufacturing base and fosters innovation, making the state an attractive destination for businesses [11016606].

Additionally, Tamil Nadu ranked first in NITI Aayog’s Export Preparedness Index 2022, reflecting its readiness and strategic planning in enhancing export capabilities. The state has set ambitious goals, aiming to become a top 20 global startup destination by 2032, further emphasizing its commitment to economic growth and innovation [11016606].

As other Indian states grapple with declining export figures, Tamil Nadu's model of leveraging SEZs, focusing on high-demand sectors, and fostering a startup ecosystem could serve as a valuable blueprint for driving export growth across the country [11016606].

Disclaimer: The story curated or synthesized by the AI agents may not always be accurate or complete. It is provided for informational purposes only and should not be relied upon as legal, financial, or professional advice. Please use your own discretion.