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    HomeBusiness‘TN working on 24x7 green power for investing companies’

    ‘TN working on 24×7 green power for investing companies’

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    TN Industries Secretary outlines sustainable growth plans at Davos meet

    The Tamil Nadu government is working to provide round-the-clock green power to companies in the State. “Every company that comes to Tamil Nadu tells us, ‘Can you assure us that the power that we use is green power?’ We are seriously working in the direction [to ensure] that round-the-clock green power is made available,” said the State’s Industries Secretary S Krishnan at a luncheon discussion on ‘Showcasing Tamil Nadu — Building Advanced Manufacturing Ecosystems for Sustainable Growth’ at the ongoing World Economic Forum (WEF) meeting in Davos, Switzerland, on Wednesday.

    “The storage technologies are not yet in place but it is a challenge we want to take up and work on it. Sustainability and ensuring that green power is available is very high on our agenda,” he said in reply to a question from the audience on green power.

    On decarbonisation and sustainable power, Krishnan said that over 50 per cent of the State’s installed energy capacity is from green sources — solar, wind and other sources. Tamil Nadu has been a pioneer in wind energy historically, he said.

    Addressing chip shortage

    Electrical industry and the semiconductor sector are focus areas for Tamil Nadu, and the State offers the best opportunity, said Krishnan at the discussion hosted by the Tamil Nadu Industries department.

    On semiconductors, Krishnan flagged a problem faced within the State. Tamil Nadu is the largest automotive manufacturing centre in India, and probably all of South Asia. However, major manufacturers say their production and assembly lines are almost idle due to a shortage of chips. “This is something that we need to work towards,” he said.

    Industry Minister Thangam Thennarasu, in his welcome address, highlighted the State’s economic might and stressed the pivotal role played by diversified manufacturing towards achieving the $1-trillion economy vision set by Chief Minister MK Stalin.

    “We are in the process of making the State a manufacturing hub in collaboration with WEF. We have already initiated discussions with other companies for advanced manufacturing undertaking, Industry 4.0 and to ascertain preparedness in manufacturing,” he said.

    This is Tamil Nadu’s first time at the Davos meet, and Thennarasu is leading the delegation.

    Manufacturing target

    Tamil Nadu is a $275-billion economic powerhouse, contributing nearly 12 per cent of the country’s GDP. Nearly $54 billion accrues from manufacturing alone. To reach the $1-trillion goal by 2030, the manufacturing sector must contribute about $250 billion. To achieve these goals, the State government is keen to attract investment, and provide the needed skills for the workforce, the minister said.

    The State has a diversified manufacturing base, from auto component and engineering to textiles and electronics. It has nearly 130 Fortune 500 companies.

    To achieve the $250-billion target, the manufacturing sector must shift to higher value-added segments of the supply chain and integrate with the global manufacturing value chain. “We are keen to establish R&D centres and global centres of excellence. These innovation hubs will empower the MSMEs to grow,” he said.

    The State government has devised incentives to attract investors to the State. ”I invite investors to invest in Tamil Nadu,” he said.

    Published on May 25, 2022

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